back in check, and what does it get for this? A soft landing and falling profits.
There were no material tax reforms, no incentives to spark business investment and no wide-ranging solutions to counter the growing housing shortage, which threatens the ability of big employers such as Wesfarmers and National Australia Bank to make the most of an influx of new workers. Instead, the government wants more of the same from business. More profits, more taxes, more jobs for Australians, and more help in getting the budget back in the black for the first time in 15 years. The finish line is in sight.For now, the government’s revisions over the past seven months show corporate Australia is flying. Company tax should be up $29.3 billion in 2023-24 and $51.8 billion over the five years to FY27, thanks to higher profits across the economy.
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