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Government dumps corporate tax cuts

Government dumps corporate tax cuts

The government will not be taking its corporate tax cuts plans to the next election following failure to secure passage in the Senate today, leaving future governments to tackle “unfinished business”, says one industry body.

  • Shared by AccountantsDaily
  • August 23, 2018
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The government’s plan to reduce the tax rate for businesses with an annual turnover of over $50 million to 25 per cent was defeated in the Senate, despite a late carveout to exclude the large authorised deposit-taking institutions.

Read the full article at Accountants Daily.

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