Not surprisingly, in spruiking the benefits of corporate tax cuts, the government has gone easy on the fact that it would mean a windfall would flow to companies and foreign shareholders in favouring of suggesting that it's workers who would be the real beneficiaries. "At least 50% of the impact of cutting company taxes goes in higher wages for workers and higher employment," cabinet secretary Arthur Sinodinos said on the weekend as he paved the way for the government's "tax reform" mini-package to focus on handing out tax cuts to companies. As they say in advertising, it might be Christmas for companies, but you get the presents.
Bear in mind that the government has already, via repealing the carbon price and the mining tax and reducing tax for small business, handed billions in tax cuts to the business sector since 2013. But conscious of the bad look of handing out lots of dollars in tax cuts to companies, the government is pushing the line that company tax cuts boost jobs, wages and economic growth.