Contact: Vessa Playfair
Deloitte
Director of Communications
(02) 9322 7576

Contact: Mike De Palo
Deloitte Tax Services
Partner
(02) 9322 5940

Corporate tax collections are projected to increase by almost 11% during 2007/08 according to the Budget forward estimates released last night.

“With GDP expected to grow at a healthy 3.75% there is an obvious increasing burden of taxation being paid by corporate Australia,” said Mike De Palo, Partner Deloitte Tax Services.

“While corporates may not have a vote in the pending election they will vote on where they commit their capital. The Government should not take the corporate sector for granted.

“With increasing globalisation an internationally competitive corporate tax regime is paramount for attracting investment into Australia.”

NB: See our media releases and research at www.deloitte.com.au.