Australia urges to follow the United States' lead and cut corporate taxes

The federal government is urging that Australia should follow the United States' lead and cut corporate taxes. U-S congress has passed the tax reform package championed by U-S President Donald Trump- the biggest overhaul of the U-S tax code in thirty years. The federal government is presently trying to reduce the tax rate for all Australian businesses from 30 percent to 25 percent. Treasurer Scott Morrison says, unless the opposition helps the government get their tax changes through, Australia could lose business to places like the United States.

Australian Prime Minister Malcolm Turnbull (centre) poses for photographs with members of his new Cabinet. Source: AAP