Business Services Industry
Cutting company taxes best way to boost economy, research shows.
Australasian Business Intelligence, October, 2006
Byline: Nicholas Gruen
Oct 10, 2006 (The Age - ABIX via COMTEX) -- Evidence is mounting to support the theory that tax rates should vary according to the activity that is being taxed. There is, in fact, no economic justification for aligning company tax with the top personal marginal tax rate. Changes to personal income tax have little effect on labour. Taxes in the corporate sector, however, have a marked impact on investment, particularly foreign investment. Australia needs to reopen the debate on company tax rates, looking to Ireland as an example. Its outstanding economic performance is largely a result of a series of reductions in capital taxes.
Publication Date: 11 October 2006
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