Release: Help ordinary Australians by lowering the corporate tax rate

Release: Help ordinary Australians by lowering the corporate tax rate

The Australian Taxpayers’ Alliance, the nation’s largest grassroots advocacy group representing taxpayers, today called for a lower corporate tax rate in light of the Tax Foundation’s 2019 International Tax Competitiveness Index.

“The Tax Foundation’s 2019 International Competitiveness Index revealed that Australia’s corporate tax rate is one of the highest in the world.” Says ATA Communications Manager, Emilie Dye. “That statistic directly harms hard working Australians.”

“The Index ranks OECD countries on competitiveness and neutrality, that is the ability to compete internationally with few economic distortions domestically. The ATO taxes businesses at a 30 percent tax rate. While the OECD average is only 23.6 percent. This means foreign companies won’t invest in Australia and Australian companies will flee elsewhere.”

“The fewer businesses in Australia, the fewer high paying jobs for hard working Australians, Australian who would otherwise pay more in income taxes. No one benefits from the high corporate tax, not even the government.”

“Everyday Australians suffer most from the high corporate tax rate. Not only has the government distorted the job market, businesses must charge more for their products in order to afford the high taxes. In conclusion, people are getting paid less but have to pay more for the products they need.”

“By lowering the corporate tax rate to 23.6 percent, the Australian government could boost the economy, could make Australia internationally competitive, and could help hard working Australians.”

“Politicians should put less effort into making corporations pay their ‘fair share’ and more effort into putting (or leaving) money in the pockets of the average Australian.”