Treasurer Scott Morrison has defended the government's company tax reduction plan

Treasurer Scott Morrison has defended the government's company tax reduction plan - saying tax cuts to business will continue to drive job creation and growth. The next phase of the government's enterprise tax plan has passed the lower house, but it's expected to face opposition from Labor and the Greens in the Senate. The government's proposal would see the tax rate for all corporate entities drop to 25 per cent by 2026-27. So far, the government has legislated a tax cut for businesses with turnovers of up to $50 million. Mr Morrison says keeping high tax rates on business won't help boost employment or wages.

Source: AAP