It may come as a shock to workers who are having to rely on lean pay awards but a new survey has found businesses are concerned about wage pressures.
The quarterly National Australian Bank business survey found that confidence in the December quarter had eased compared to three months earlier with wage costs cited as the biggest concern among firms.
This is despite wages growth is flatlining at its lowest level in at least two decades and only just keeping pace with inflation.
"It is unclear whether this means we are likely to see a pick-up in wages from here, or conversely, even more restraint as firms to preserve margins," NAB group chief economist Alan Oster said.
Workers can only hope it is the former.
Prime Minister Malcolm Turnbull again promised his government's business tax cuts will result in higher wages for households.
"Business tax is ultimately a tax on workers, they're the ones who pay for higher taxes through lower wage growth and fewer jobs," Mr Turnbull told parliament on Thursday.
"Lower business taxes help to grow wages."
His comments came as the House of Representatives passed the second phase of the government's 10-year tax plan that will incrementally lower the tax rate for all businesses to 25 per cent.
However, the government will need the support of the Senate crossbench given the fierce opposition from Labor and the Green to the reduction.
But One Nation's three senators in the upper house have already ruled out passing the cuts, saying they are not convinced tax cuts are key to boosting investment in Australia.
Opposition Leader Bill Shorten asked the prime minister during question time whether he would take the $65 billion tax package to the next election.
"We're looking forward to our enterprise tax cuts being passed in the Senate in this parliament," Mr Turnbull confidently responded.
"We will go to the next election with the benefit of those tax cuts flowing through into the economy in thousands more jobs."
The government has so far legislated a tax cut for businesses with turnovers of up to $50 million, leaving the remainder on a rate of 30 per cent.
The rest of the plan will see the tax rate for all corporate entities drop to 27.5 per cent by 2024/25 and eventually to 25 per cent by 2026/27.
Australian Industry Group boss Innes Willox said enacting the bill would be a major step along the road to a "fit-for-purpose" tax system.
"Importantly, this extended time frame would allow a more comprehensive approach to tax reform to be introduced in parallel with the company tax rate proposal," Mr Willox told AAP.
"By the middle of the next decade, Australia could have in place a more robust, sustainable and competitive tax system."
Like the government, he believes the reduction would boost investment, productivity and lay the foundation for a lift in real wages.
