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Retailers back campaign to cut company tax

February 21, 2018

The National Retail Association (NRA) has today urged Senate crossbenchers to support the federal government’s push to cut company tax, predicting the move would spark an increase in entry-level employment for young people.

Legislation is currently before the Senate that seeks to reduce the rate of tax paid by all corporations from 30 per cent to 25 per cent over the next decade.

NRA CEO Dominique Lamb said that tax cuts would assist many large-scale Australian retail companies to employ more Australians.

“The retail sector is one of the largest employers of Australians, and is most readily able to respond to government efforts to increase training or employment.

“Larger retail businesses are the backbone of entry-level employment opportunities, and we would expect a quick upscale in employment should the Senate legislate these tax cuts.

“The retail industry asks very little of Government. It is one of Australia’s largest employers, yet it has no dedicated Minister or Department at either state or federal levels, unlike other large employers that rely on Government support to drive jobs and growth.

“Retail simply gets on with creating jobs, particularly at the entry-level, and a cut in company tax would enable large retail outlets to provide many young Australians with a foot in the door to paid employment.

“The NRA urges Senate crossbenchers to support this legislation in the interests of jobs for young Australians.”

The federal government requires at least 9 of the 12 Senate crossbenchers to vote in favour of the legislation and so far has obtained the support of Cory Bernardi, Fraser Anning and David Leyonhjelm.

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