There is a lot of data to suggest that Australia should look to lower its corporate tax rate.
The reason for this, is two fold. Firstly, the current rate of 30% has been in place since 2001, which has not provided Australian businesses the flexibility to create more appropriate fiscal strategies around a changing, globally-integrated economy.
Secondly, a lowered tax rate, even a reduction from 30% to 25%, positions Australia as a greater value investment for foreign businesses. This will create a positive inflow of investment into Australia, and likewise, prevent already established businesses taking their operations offshore. Overall, a re-assessment of the corporate tax structure is necessary.
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