Business Tax Working Group
No changes will be made to the R&D Tax Incentive after the Business Tax Working Group failed to find a “revenue neutral” way to fund a company tax cut, which has been pushed for by lobby groups.
Starting a business may feel like a solo struggle, but it may be of some comfort that smaller enterprises now have a representative at the top table of government for the first time in a decade.
Tax experts have warned of yet another hurdle for businesses to overcome in attempting to claim the loss carry-back tax refund announced in last week's federal budget.
The Government’s much-hyped company tax cuts have been dumped, but Treasurer Wayne Swan has blamed the Opposition for blocking the cuts and forcing the Government to “redirect” the funds to families.