The Printing Industries Association of Australia expresses its deep disappointment that the Turnbull Government’s proposed tax cuts have been postponed after failing to secure the support of the Senate.
The Printing Industries Association of Australia is a strong supporter of corporate tax relief. Australian businesses underpin all economic activity in Australia. “Taxing profits is a tax on jobs and a tax on economic growth,” says Andrew Macaulay CEO of PIAA.
“Small and big business account for 86% of all jobs in Australia, we need support for business to encourage job creation,” notes Macaulay.
The Association urges Senator Hinch and Senator Storer to back the Government’s proposed tax relief legislation. Both Victoria and South Australia whom the Senators respectively represent need more local jobs and need more employment.
Specifically regarding the printing industry, Macaulay observes, that the printing and packaging sector “would employ more people if government impositions are removed.”
“We have long been campaigning for the removal of state-based payroll tax, a tax on employing people. The cutting of corporate company tax is consistent with this policy position. Businesses should not be penalised unduly by Government for doing well,” implores Macaulay.
Ultimately, the international competitiveness of our industry is under threat if our corporate tax rate remains high. New Zealand has a corporate tax rate of 28%; Singapore has a corporate tax rate of 17%. Australia’s is at 30%.
“Overall, we must remain competitive in our region on tax or else print and packaging jobs may go offshore”, says Macaulay.