Industry leaders say the U.S. Trump administration’s push to reduce its corporate tax rate to 15 percent, and impose tariffs on foreign imports, means Australia will need to work harder to compete globally.
President-elect Donald Trump has committed to slashing the U.S. corporate tax rate to 15 percent, following cuts in 2017 of the corporate rate from 35 to 21 percent.
The move is part of a broader package to revive U.S. competitiveness and has political leaders around the world watching closely.
Risks of Capital Flight From Australia
Federal Nationals member for New England, Barnaby Joyce, says that if the United States cuts its corporate tax rate, Australia would be “at risk of capital flight.”…