Radical Aussie plan would slash tax for small companies
Large companies would continue to pay existing rates of tax and also a new world first ‘cashflow tax’.
Proponents say the plan would boost Australian GDP by A$14b with no cost to the federal budget.
Under changes proposed by Australia’s Productivity Commission, the tax rate for smaller businesses would be slashed while larger businesses would pay a new ‘cashflow tax’.
The Commission recommends cutting the tax rate for companies with revenues of less than A$1 billion to 20%, while
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