The Federal Government’s losses in the Super-Saturday by-elections has prompted debate in the Liberal party about their corporate tax cuts.
Losses in battleground electorates such as Mayo, Braddon and Longman to Labor and Minor parties were thought to be an indication of public opinion on policy and the leadership of both major parties.
Although Finance Minister Mathias Cormann has rejected a change to corporate taxes, he says it is important for Australian businesses to be protected from lower tax rates which exist in other parts of the world.
Currently, any business with a turnover of less than $50 million will have a reduced tax rate from 30 per cent to 25 per cent.