Business Council Statement on Company Tax
15 September 2016
If the Parliament abandons the 10-year enterprise tax plan it is effectively giving up on Australia’s global competitiveness.
“The Business Council is focussed on building prosperity for all Australians. Introducing the company tax reform bill in its entirety matters, because of the benefit that would flow to millions of Australian workers and their families,” Business Council President Catherine Livingstone said.
“Tax reform is one of the most direct and effective economy-wide levers we have left to boost growth and encourage the investment needed to create more and better paid jobs.
“If there is uncertainty about the commitment to the 10-year tax plan, what other lever are we going to pull to make Australia more attractive for business investment, which is currently falling at a rate not seen since the 1990s recession?
“It will be important that the Parliament allows the tax plan to be properly debated so that the community can be better informed of the benefits, and the consequences of losing the long term commitment.
“The Business Council has already started discussions with members of Parliament on the importance of retaining the full enterprise tax plan to restore business investment and we will continue to do so in coming weeks.
“The reality is that the prosperity of all Australians can only be underpinned by strong and competitive businesses of all sizes investing, growing and employing into the future.”