Tuesday, 16 October 2018
That the Senate—
(a) notes that:
(i) a company with a turnover of $50 million a year is not a small business,
(ii) corporate profits hit a record $335 billion, up 10 per cent in a year, while wages are at all time lows of 2 per cent, and
(iii) spending $3 billion on more company tax cuts will not reduce economic inequality and low wage growth; and
(b) calls on the Federal Government to instead reinvest that money into lifting Newstart for the first time since 1994, when it was lifted by just $2 a week.
The coalition government fast-tracked laws that will bring in tax cuts five years earlier than planned for more than three million businesses that employ nearly seven million Australians. This will mean more investment, more jobs and higher wages. The coalition government's fast-tracked laws will bring in tax cuts five years earlier.