The prospect of Donald Trump winning this week’s US election has Australia’s business lobby laying the groundwork for a cut to Australia’s company tax rate.
Trump has committed to slashing the US corporate tax rate to only 15% from 21% currently, whereas Vice President Kamala Harris has vowed to increase the tax rate to 28% if elected.
Business Council of Australia (BCA) chief executive Bran Black claimed that CEOs complain that Australia’s high company tax rate made it harder to attract investment and that the situation would worsen if Donald Trump was elected.
