Australian business tax breaks at risk

MELBOURNE: Proposed tax cuts for Australian businesses are at risk following explosive evidence uncovered in an inquiry into the financial services sector, including revelations that financial advisers knowingly charged dead clients for up to a decade.

At least two crossbenchers, whose support the conservative government´s aim to cut the business tax rate from 30 percent to 25 percent, have raised concern about the proposed cuts, stating that a string of highly damaging admissions made during the Royal

“Commission was "not going to help the government´s case".

Independent lawmaker Tim Storer told Fairfax Media on Saturday that public support for the proposal could be difficult to secure, while fellow independent lawmaker Derryn Hinch went further, labelling banks "crooks". He said that he would only support the tax cuts if the banks were excluded.