A $9 billion company tax cut is at the top of the Turnbull Government’s agenda. Meanwhile, state premiers strapped for funding for health and education services are demanding the federal government rethink its priorities.
Liberal leader and Cabinet Secretary Arthur Sinodinos claims that corporate tax cuts have “good effects”, leading to “higher GDP in the economy and higher wages for workers.” But the Turnbull Government’s corporate tax cut agenda flies in the face of state premiers’ demands for proper funding for the services we rely on.
When the ATO just reported that almost a third of large corporation paid no company tax in Australia in 2013-2014, the last thing we need is to lighten the load of corporate Australia. We need to come together now to tell Turnbull not to cut corporate taxes when big businesses already owe us millions in taxes.
Call on the Turnbull Government to abandon its plan to cut corporate taxes.
NSW Premier Mike Baird has called on the federal government to pay an extra $7 billion over four years to hospitals across the nation still reeling from Abbott-era budget cuts. “The first call on the nation’s resources should be health and education funding,” urged South Australian Premier Jay Weatherill.
The Turnbull cuts would only serve to benefit larger companies with annual turnover of $2 million, lowering the 30 percent company tax rate down to 28.5 percent, the same rate small businesses currently pay. But when many of these same large companies are taking advantage of tax loopholes to dodge tax liabilities here in Australia, do they really merit a tax cut?
Our SumOfUs community has successfully targeted big corporations like Vodafone which paid no company tax in Australia in 2014. The pressure is working -- Vodafone is responding to our concerns and trying to defend its tax record. If we can push Vodafone to come clean about its tax record, we can push the Turnbull Government to rethink its company tax cut proposal.
Sign the petition to tell the Turnbull Government not to give tax breaks to companies already dodging their tax liabilities.
More information
Turnbull faces ‘fierce campaign’ if tax cuts put before restoring school and hospital funding
The Guardian. 22 March 2016.
The Guardian. 22 March 2016.