News

Trying to push through legislation for tax reduction

发布时间:2017-04-05 13:51:49

Australian Treasurer Scott Morrison is recently trying to push through legislation to implement Prime Minister Malcolm Turnbull’s plan of reducing company tax.

Due to the opposite of Senate, it has only reduced tax for big companies during the last decade. However, the recent amended legislation has passed in the upper house that it allows the tax cut for enterprise with revenue less than A$50 million.

Tax reduction strategy is a foundation of Morrison’s annual budget announcement last May. Scott Morrison points out that cutting in tax for company is an effective method to stimulate the Australian economy and he will continue work on more additional measures.