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The small business tax rate will be cut to 27.5 per cent from 1 July and capture operators with a turnover of up to $10 million, which will hand up to 60,000 companies a 2.5 per cent break.
The move is accompanied by a more ambitious plan to broaden access to the lower 27.5 per cent tax rate to larger companies with a turnover of up to $100m by 2019-20, with the higher threshold phased in over the next four years.
Read the full story at The Australian.