Monday, February 2, 2015

STOP fiddling with company tax

At last the PM Tony Abbott has relinquished his PPT (Paid Parental Leave) scheme because it is too costly and inappropriate when top priority is for the Government to cut expenditures. The existing Labor scheme is adequate for the time being. Major companies have their own in house schemes and don't want any Government interference.

However, the plan to impose a levy (tax) of 1 1/2% on companies with a taxable income of over $5 million remains. This accounts for about 3000 companies, due to start 15 July, 2015. This is a crazy idea and should not be part of a Conservative Federal Government thinking. Hands off increasing the company tax rate.