News

Lowering the company tax rate



8 July 2010

Professor Michael Dirkis commented on the Gillard Government's decision to partially reverse its decision to lower the company tax rate.

The Gillard Government announced it will cut the company tax rate by only 1 per cent in three years time.

In an interview with ABC Radio National's breakfast program, Professor Dirkis said there's unlikely to be any further cuts to company tax for the forseeable future despite a worldwide trend to decrease such taxes.

"In most developed economies, the tax rate is coming down for corporates and when you've got a headline rate which was certainly competitive in 1999, now when we look across the world, Australia's relative tax rate is at the higher end."

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