Sadly, no tax reform in Australia
According to Reuters, based on data from S&P 500 companies, first-quarter capital expenditure in the US totalled around U$160 billion, up more than 21% from a year ago. This has been attributed to the US tax reform and it would be good if people in Canberra paid attention to the movements in the US economy resulting from a comprehensive tax restructure. Wouldn’t we want similar statistics in Australia? Focus on cutting a pie rather than making it bigger never pays off in the long-term.