Published: October 10, 2018
Coalition to lower rate for businesses with annual turnover of less than $50m from 27.5% to 25%, bringing forward plan by five years
The Morrison government will bring forward tax cuts for small and medium businesses by five years at a cost of $3.2bn.
Under the plan, announced on Thursday, the government will lower the tax rate for businesses with an annual turnover of less than $50m from 27.5% to 25% by 2021-22 rather than from 2026-27 as currently legislated.
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