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In tax news - if elected, opposition leader Tony Abbott has promised that the Coalition government will cut company taxes by 1.5c within two years, taking the current 30c in the dollar rate down to 28.5c. The cut would affect approximately 750,000 incorporated businesses.
To find out more about Company Tax follow this link:
http://www.ato.gov.au/Business/Yearly-reports-and-returns/Income-tax-return/Companies/
