How ALP, coalition business plans compare

Labor has confirmed it is keeping one already-legislated business tax cut, but how does its plan compare to the government's.

LABOR, COALITION BUSINESS TAX POLICIES COMPARED

LABOR

* Keep 27.5 per cent rate for businesses up to $50 million turnover, but no further cut.

* Announced an "Australian Investment Guarantee" which Labor says provides relief for business which outweighs coalition's corporate tax rate cut.

COALITION

* Legislated corporate tax rate cut to 27.5 per cent for businesses under $50 million turnover to start July 1, 2018.

* Tax rate for small and medium sized businesses is also legislated to drop to 27 per cent in 2024/25, 26 per cent in 2025/26 and to 25 per cent in 2026/27.

* Aiming to cut the tax rate for big businesses with turnovers above $50 million to 25 per cent by 2026/27, but the laws have been shelved until at least mid-August.