Small business and Company Tax Rates
The small business company tax rates have been reduced from 30% to 28.5% for income years commencing on, or after, 1 July 2015. This lower rate also applies to small businesses that are corporate unit trusts and public trading trusts.
The corporate tax rate will remain at 30% for all other companies that are not small business entities.
Progressive changes to the company tax rate:
| Income year | Aggregated turnover threshold | Tax rate for base rate entities under the threshold | Tax rate for all other companies |
|---|---|---|---|
| 2015-16 | $2m | 28.5% | 30.0% |
| 2016-17 | $10m | 27.5% | 30.0% |
| 2017-18 | $25m | 27.5% | 30.0% |
| 2018–19 to 2019–20 | $50m | 27.5% | 30.0% |
| 2020–21 | $50m | 26.0% | 30.0% |
| 2021–22 and future years | $50m | 25.0% | 30.0% |
Speak to Taxopia business tax accountants today about your company tax rates and returns and business accounting needs. Call 1300 829 674 now!
For further reading on company tax rates: https://www.ato.gov.au/rates/changes-to-company-tax-rates/