Government looks for new tax ideas as business press for corporate cut

Reserve Bank governor Philip Lowe, warning Australia would suffer its biggest downturn since the Great Depression, this week re-iterated calls he made last year for governments to look at ways to boost economic growth as the country emerges from coronavirus-related shutdowns.

"When it comes to tax reform, we have already passed through the parliament more than $300 billion of tax cuts," he said. "So we are absolutely focused on tax reform, as well as broader productivity-enhancing reforms across infrastructure, skills and education, deregulation and of course, industrial relations as well."Alex Ellinghausen

"To enable the Australian economy to successfully navigate out of the current crisis, increased workplace flexibility is essential," he said.

Many aussie companies will be running losses as a result of the covid pandemic. Losses = no tax paid = no franking credits for shareholders

Don’t look at superannuands.

Make the super rich to pay more tax, easy

simple / stop the financial gains afforded to those with tax loopholes . Note , stock exchanges don't have covid19 blip

biz tax cut is red herring when many corps have not paid tax for years UK cut biz tax so VAT went up to 22% US cut biz tax n no new investment EXCEPT shares buyback Race to d bottom of biz tax while we r paying ripoff gas/power JUST MADNESS

Corporate tax cuts during a recession. Yeah, that'll work.

biz tax cut is red herring when many corps have not paid tax for years UK cut biz tax so VAT went up to 22% US biz tax cut n no new investment EXCEPT shares buyback We r paying ripoff gas/power JUST MADNESS Resources r limited once they r gone gone forever We r not getting tax

Gst on everything, cut the state taxes like payroll, stamp duty & land tax. Provide incentives for companies to employ more staff. Increase r&d incentive as well as subsidies for sustainable manufacturing such as medicines, food and medical supplies.

How surprising !

Federal reserve tax ?

Franking credits, negative gearing, hobby farm subsidies ,family trusts your know all the rich peoples avoiding tax schemes

Make tax-avoiding corporations pay?

Stop franking credits and negative gearing

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Company tax not economy's silver bullet: Westacott | Sky News AustraliaA revival of the company tax cuts would be welcomed but would not be a silver bullet to revitalising the economy post-coronavirus, Business Council chief Jennifer Westacott says. \n\nTreasurer Josh Frydenberg on Wednesday laid the groundwork for a return to tax cuts abandoned by Malcolm Turnbull in 2018.\n\nSpeaking with Sky News on Wednesday, Ms Westacott said Australia needed a broad range of pro-business tax reforms to lift productivity. \n\n“I think it is important for us to put it back on the table but along with other tax reform, it’s not the only thing that needs to be done,” she said. \n\n“If you’re going to do these sorts of reforms, you would surely do them now. \n\n'We have to take the reforms that position us for the next 10, 20, 30 years of continuous and strong growth.' \n\nImage: News Corp Australia\n
Source: SkyNewsAust - 🏆 7. / 78 Read more »