Abbott scraps company tax cut for big business

The Federal Government has formally revealed it has scrapped the promised company tax cuts for big businesses.

Nor will larger companies be expected to pay a levy that was designed to help fund the Prime Minister’s dumped paid parental leave scheme.

Tony Abbott will announce the changes in a speech to a business lunch in Sydney today.

But a tax cut of at least 1.5 per cent will go ahead for small businesses from this July.