Treasurer Tom Koutsantonis
SOUTH Australian businesses have saved more than $160 million under tax cuts delivered in last years State Budget which make it easier for them to restructure, modelling shows.
Treasurer Tom Koutsanotnis has released State Government data showing 35 businesses operating in SA, including the locally-headquartered Cheap As Chips, have taken advantage of corporate reconstruction relief introduced as part of a broader tax cut package in last years Budget.
The measure, which cost the Budget $5 million in lost revenue over two years, triggered activity which would have cost businesses more than $160 million if the transactions were taxed.
Previously, parent companies undertaking corporate reconstructions were required to…
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