Second Reading Speeches

Treasury Laws Amendment (Enterprise Tax Plan No. 2) Bill 2017

Type
Government
Portfolio
Treasury
Originating house
House of Representatives
Status
Not Proceeding
Parliament no
45

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Summary

Further to the

Treasury Laws Amendment (Enterprise Tax Plan) Act 2017
, the bill amends the:
Income Tax Rates Act 1986
to: progressively extend the lower 27.5 per cent corporate tax rate to all corporate tax entities by the 2023-24 financial year; and further reduce the corporate tax rate in stages so that by the 2026 27 financial year, the corporate tax rate for all entities will be 25 per cent; and
Income Tax Assessment Act 1936
,
Income Tax Assessment Act 1997
,
Treasury Laws Amendment (Combating Multinational Tax Avoidance) Act 2017
and
Treasury Laws Amendment (Enterprise Tax Plan) Act 2017
to make consequential amendments.