Labor ignores the salient fact that company tax has nothing to do with the actual revenue collected after compliance and tax avoidance/minimisation/reconciliation costs have whittled down the revenue that the ATO actually collects! e.g., the highest rate of tax collected as reconciled revenue for the year finding 2017 was just 13%! With some paying as little as 4% and around 40% paying no company tax at all!

And the better off are so able to arrange their finances, so as to never pay more than 15%

Meaning, if there were no clever accounting or reconciliation or exclusions. Then an unavoidable 15% flat tax with a generous tax-free threshold would collect double or more actual revenue than now!

Suggest that to any of your labor mates and watch them go ballistic as they scream. we've already lowered the top rate to 35%!

This tells us they have no intention of rationalising our tax system nor making it more transparent or less avoidable than now. And like the fiscal illiterates/incompetents they really are, will continue to front-load the tax burden wherever possible?

Even as the taxpayer cohort shrinks and shrinks!

A progressive tax system, Tristan. You can't be serious, surely! That sort of thing is not only in labor's DNA, but an obscenity to the deaf, dumb and blind mindset of, talk the talk of blah, blah, blah labor!
Alan B.

A minimum company tax could be a good thing ; like they're trying in Europe. Though they're setting it too low. Agreed as things are most big corporations can hire savvy lawyers and accountants and minimise their tax.

The open borders principle- no trade barriers policy- complicates finance- of course it operates in theory rather than practice- the players trying to get everyone else to make compromises. We need the power and responsibility for our own affairs- we can make allies.

Flat tax for wage earners & Business managers & company Tax for companies !

Alan B,

Clearly, you have no clue about economics or accounting.

A company doing well makes a gross profit (EBIT) of about 15% on funds employed so 15% on reconciled revenue on which the maximum they would be expected to pay would be 30% of the profit or 4.5% of RR.

The company that paid 13% on RR is a rock star, probably in oil and gas.

Note that about 30% of companies after deductions made no profit and thus pay no tax.

Simple.