Labor to axe business tax cuts: Shorten

Bill Shorten would wind back tax cuts for small and medium businesses with turnovers from $10 million to $50 million if he wins the next election.

Labor will roll back tax cuts for many small Australian businesses if it wins the next election.

Opposition Leader Bill Shorten says Labor will rescind the coalition's tax cuts for businesses with turnovers between $10 million and $50 million.

He says Labor is still considering what it will do about tax rates for businesses with turnovers between $2 million and $10 million.