The planned paid parental leave levy of 1.5%, which would have been paid by the nation’s 3000 biggest companies, has been dropped but the nations top companies have been told that the corresponding proposed corporate tax cut, which would have off set the PPL, has also been axed.
Under the original paid parental leave plan, a tax cut of 1.5% was to be offered to all businesses, but the estimated 3000 businesses with annual profits of over $5m would have had that benefit neutralised by the PPL levy. The proposed corporate tax cut from 30% to 28.5% will now only applied to small…
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