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Tax Cut or pay rise?

  • Tax Cut or pay rise?Image: Macquarie Media

Treasurer wants to cut company tax. Australians need a pay rise

Scott Morrison is calling for Trump-style tax cuts.

The Federal Treasurer has just been in America, where initial results of Donald Trump’s corporate tax cuts have shown a positive economic response.

President Trump slashed the company tax rate from 35 per cent to 21 per cent, and there are also incentives and allowances for investment.

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And Mr Morrison told Melbourne Radio 3AW it’s promoted innovation, research and development, and wage growth.

“It’s doing what it intended to do, which is why we’re pursuing similar policy here,” he said on Monday.

The government has already cut the tax rate for small businesses, but Mr Morrison said he wants cuts for all businesses to bring Australia on par with countries like the US, France, and the UK.

But when?

Well, that isn’t so cut-and-dry.

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