Labor is internally at odds about the need for corporate tax reform. Industry Minister Ed Husic wants to bring labour and business closer through “corporate tax reform or the way in which we provide investment allowances”. Treasurer Jim Chalmers says government has already done enough.
Reforming the corporate tax system is vital to any comprehensive reform of the tax and transfer system. While cutting the corporate tax rate would stimulate investment and create jobs, those outcomes can be achieved by means that better fit Australia’s unique circumstances.
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Robert Breunig is director of the Tax and Transfer Policy Institute at the Australian National University.
Kristen Sobeck is a Research Fellow at the Tax and Transfer Policy Institute at the Australian National University.
