Productivity Commission Proposes Tax Cut for Business Reform Deal

The Productivity Commission has proposed a tax reform aimed at boosting investment, suggesting a reduction of the corporate tax rate to 28% for large businesses and 20% for those earning under $1 billion. This reform will be funded by a new 5% cash flow tax on all businesses, which is expected to increase private investment by $10 billion. However, some industry groups, including miners, have expressed concerns over the impact on cash reserves. The commission also plans to reduce red tape, potentially saving an additional $10 billion.

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