Division Description Changes — Motions — Taxation — 7th Dec 2017

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senate vote 2017-12-07#2

Edited by mackay staff

on 2018-08-10 14:55:04

Title

  • Motions — Taxation
  • Motions - Taxation - Cuts for Australian companies

Description

  • <p class="speaker">Cory Bernardi</p>
  • <p>I move:</p>
  • <p class="italic">That the Senate&#8212;</p>
  • The majority voted against a [motion](https://www.openaustralia.org.au/senate/?id=2017-12-07.130.1) introduced by Senator [Cory Bernardi](https://theyvoteforyou.org.au/people/senate/sa/cory_bernardi) (SA), which means it failed.
  • Senator [Fraser Anning](https://theyvoteforyou.org.au/people/senate/queensland/fraser_anning) (Qld) voted 'Yes' to this motion against the rest of his party, which voted 'No'. This is known as [crossing the floor](https://www.peo.gov.au/learning/fact-sheets/crossing-the-floor.html).
  • ### Motion text
  • > *That the Senate—*
  • > *(a) notes that the Trump Administration has succeeded in passing, through both Houses of the Congress of the United States of America (US), over USD$1 trillion in company tax cuts over 10 years, including a cut in the corporate tax rate from 35% to potentially 20%;*
  • > *(b) expresses concern that these US company tax cuts will affect Australian companies' global competitiveness;*
  • > *(c) also notes the Australian Department of Treasury research, published earlier this month, revealing that if Australia's corporate tax rate was cut from 30% to 25% by 2026, there would be $30 billion in additional company tax revenue due to stronger economic growth, and increased GST revenue from additional consumer spending;*
  • > *(d) further notes the recent comments of the Business Council of Australia and the Australian Chamber of Commerce and Industry supporting Australian company tax cuts; and*
  • > *(e) supports tax relief for Australian companies to ensure our companies remain globally competitive.*
  • <p class="italic">(a) notes that the Trump Administration has succeeded in passing, through both Houses of the Congress of the United States of America (US), over USD$1 trillion in company tax cuts over 10 years, including a cut in the corporate tax rate from 35% to potentially 20%;</p>
  • <p class="italic">(b) expresses concern that these US company tax cuts will affect Australian companies' global competitiveness;</p>
  • <p class="italic">(c) also notes the Australian Department of Treasury research, published earlier this month, revealing that if Australia's corporate tax rate was cut from 30% to 25% by 2026, there would be $30 billion in additional company tax revenue due to stronger economic growth, and increased GST revenue from additional consumer spending;</p>
  • <p class="italic">(d) further notes the recent comments of the Business Council of Australia and the Australian Chamber of Commerce and Industry supporting Australian company tax cuts; and</p>
  • <p class="italic">(e) supports tax relief for Australian companies to ensure our companies remain globally competitive.</p>
  • <p class="speaker">James McGrath</p>
  • <p>I seek leave to make a short statement.</p>
  • <p class="speaker">Sue Lines</p>
  • <p>Leave is granted for one minute.</p>
  • <p class="speaker">James McGrath</p>
  • <p>Lower taxes are good for you.</p>
  • <p class="speaker">Sue Lines</p>
  • <p>The question is that the motion moved by Senator Bernardi be agreed to.</p>