The Tax Working Group (TWG) has reached the conclusion that there should be a corporate tax cut. This finding was not surprising considering it was set up for this purpose. It is said that this will bring more investment money into Australia. Considering the Australia currency is already far too strong and is slowing down exports because they are too expensive on the world market, the last thing we need is more money flowing in. This can be funded by reducing tax offsets for R&D development, it says. What a silly idea this is. Reduce R&D and we will have nothing new to sell. This is like robbing Peter to pay Paul. These are the same companies who will enjoy the corporate tax cut. By cutting back on gas, oil, agriculture and transport tax write offs, there will no overall benefit. Furthermore, ending tax deductions for multinationals will slow foreign investment not improve it. These inquiries are often a waste of public money. They make recommendations that are usuall...
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