Australian Prime Minister Malcolm Turnbull uses his phone in the House of Representatives at Parliament House in Canberra, September 14, 2016. AAP/Lukas Coch/via REUTERS/File Photo
SYDNEY (Reuters) - Australian Prime Minister Malcolm Turnbull has rejected a call from his government backbench to exempt the county's big four banks from a tax package aimed at reducing company tax rate from 30 percent to 25 percent.
Speaking to reporters in Queenstown, New Zealand on Saturday, Turnbull insisted that a company tax cut has to be applied without exemption.
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