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uraniumu308

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10/02/16

10:50

Post #: 16983638
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oops full story from Business Spectator

Dividend imputation credits could be abolished to fund company income tax cuts under a plan from the Australian Industry Group.
Writing in Fairfax Media, Ai Group chief executive Innes Willox says that although imputation system allows relief from double taxation for local shareholders, it does not restore the lack of competitiveness for prospective foreign investors in Australia.
With earlier plans for a GST increase to fund tax cuts floundering, Mr Willox emphasised that a company tax cut would create employment and productivity gains as inbound investment increased.
The move could be worth around $19 billion a year, according to Fairfax Media.
“Cutting the [company tax] rate to around 20 per cent might be enough to dull the pain of lost imputation for domestic shareholders,” Mr Willox wrote.

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