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|CANBERRA T.J. Jones Lions Jersey , Oct. 16 (Xinhua) -- Australia will have one of the highest company tax rates among developed nations if it is not cut, the Business Council of Australia (BCA) warned on Monday.
Australia's business tax rate is 30 percent, fifth highest among member nations of the Organisation for Economic Cooperation and Development (OECD).
In a statement issued on Monday Nick Bellore Lions Jersey , Jennifer Westacott, chief executive officer (CEO) of the BCA, said that Australia would rank the third-highest in the OECD when the governments of France and the United States upheld promises to slash the company tax rates.
"As other countries have slashed their company tax rates to improve competitiveness Miles Killebrew Lions Jersey , Australia has been left to languish with a rate that has been unchanged for 16 years," Westacott said in a statement on Monday.
"The average company tax rate across the OECD is 24 percent and falling. The average across Asia is 21 percent.
"This global action should be a wake-up call for the Senate that Australia cannot afford to stand still, since every company tax reduction overseas is a de facto tax increase on Australia."
Westacott's comments have increased pressure on Treasurer Scott Morrison to secure a business tax cut.
Prime Minister Malcolm Turnbull has proposed a 10-year tax reduction but those changes have stalled in the Senate where the government does not hold a majority.
However Anthony Zettel Lions Jersey , Westacott said that the proposed changes did not go far enough.
"The proposal currently before the parliament to lower the rate to 25 percent, will take a decade to be phased in, and will still leave Australian above the OECD average and significantly higher than other countries with whom we compete for investment and jobs T.J. Lang Lions Jersey ," she said.
"Australia needs a pro-growth, competitive tax system for all businesses, big and small Ricky Wagner Lions Jersey , to stimulate investment, raise productivity and increase the real wages of working Australians."
Some suggestions To Buy Electric Cars For Kids Sherrie Niblock
Submitted 2014-01-31 13:26:15
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These types of cars come in a sizable selection at present and thus allow it to be more attractive as well as appealing for kids and fogeys to get these types of cars. Your kid may like to have the Ferrari because that of yours and now it's possible for you to obtain the same looking Ferrari for your kid as heshe likes to be like you.
These cars come in a variety of electric battery capacity. It is dependent on age your kid to choose from 12 to 24 v of electric battery for these cars. Furthermore, height and weight from the kid also needs to come into thing to consider while making your choice. For additional information, it is simple and hassle free to check out kids electric car reviews on the web. A large number of toy websites offer a huge selection of electric cars that may be the best present for your kid heshe might cherish for years. Author Resource:- Have you decided what to present your son on his special day? Get more info through Kids Electric Car Reviews.
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