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June 14th, 2012 
FAKE NEWS for the Zionist agenda Opposition Leader Tony Abbott has dismissed the possibility of a company tax cut, describing it as a desperate attempt to announce something from the prime minister’s economic forum.
Julia Gillard ended her forum on Wednesday saying the tax cut was the “absolute top priority” of the government’s business tax working group.
She wants the opposition to do “the right thing” and back any tax cuts legislation the government brings to parliament.
The coalition refused to support a previous government attempt to lower the company tax rate from 30 per cent to 29 per cent because it would have been funded by the minerals resource rent tax.
“There’s a question for others in the parliament, particularly the opposition, about what attitude they’d take,” Ms Gillard told ABC Radio.
But Mr Abbott said the only sustainable tax cut was one funded through savings or economic growth.
Instead the government wanted it paid through tax increases.
“That’s not a tax cut, it’s a con,” he told reporters in Adelaide.
“The prime minister was just desperate to have something to announce after her stage-managed economic forum.”
The Australian Chamber of Commerce and Industry also is unimpressed, saying a tax cut should be funded by reduced government spending and not by shifting the corporate tax burden.
“We don’t believe the function of working out how to fund that should be subcontracted to a committee,” the chamber’s director of economics and industry policy Greg Evans told ABC Radio on Thursday.
The chamber believes the tax system needs reform that improves the international competitiveness of Australian companies.
Yasser El-Ansary, from the Institute of Chartered Accountants, says an interim report from the business tax working group contained several recommendations on how to pay for a cut in the corporate tax rate.
They included axing deductions for depreciation, especially for the mining and resources sectors.
“Taking away their access to those tax deductions would save the government a few billion dollars which would certainly go a big way towards funding a modest corporate income tax cut,” Mr El-Ansary told ABC Radio.
But he said there also was a need to have a debate about reforming the goods and services tax (GST), both its base and the rate itself.
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