The Senate has rejected the federal government's plan to slash the corporate tax rate from 30 to 25 per cent.

The Senate has rejected the federal government's plan to slash the corporate tax rate from 30 to 25 per cent.

Finance Minister Mathias Cormann made a failed last-ditch attempt to drum up key crossbench support by carving out Australia's big four banks.

Finance Minister Mathias Cormann made a failed last-ditch attempt to drum up key crossbench support by carving out Australia's big four banks.