its rather simple. There will be a 1.5% company tax cut across the board. Those big businesses that profit more than $5million will not get the tax cut but the money will be used for the paid parental leave scheme. On $5million, thats $75,000. Not really a big hit to big business. My understanding is that less than 1% of companies will pay the tax and 99% of small companies get the tax cut. Whilst I am not a fan of the idea, the tax cuts for small business is clearly very good news.
I would have thought that the lefties would get this. Remember the super profits tax argument. They all swallowed that one.....
