Company Tax Calculator

Figuring out how to calculate your company tax can be a confusing process. Without a clear understanding of tax liabilities, business owners may find themselves facing financial uncertainties and potential issues with non-compliance. To make this process easier, our team at Taxopia have designed a software tool that allows business owners to calculate their tax obligations with ease. By plugging in your business income and deductions information, our calculator does the hard work of determining your tax obligations.

Tax Estimator Widget

Company Tax Estimator

A fast company tax calculator for years 2013 to 2024.

Select Tax Year		Refundable Tax Credits & Offsets
Aggregated Turnover
Accounting Profit(Loss)		Taxable Income(Loss)
Non-Deductible Items		Tax on Income at %
Non-Assessable Items		PAYG, Credits & Offsets Applied
Prior Year Tax Losses		Unusable Tax Credits
PAYG Tax Instalments

Personal Tax Calculator

Estimate tax refunds or payable for years 2013 to 2024.
Tab, enter or tap to next field to get outcome.

Select Tax Year		Tax on Income
Select Tax Status		Medicare Levy*
Total Gross Income		Offsets Applied*
Business Income in Above		Net Taxable Income
Work Deductions
Other Deductions
Tax Withheld, Credits & Instalments
Specific Offsets eg Remote Zone

Taxopia Lite – Taxopia’s Company Tax Return Online Here – Only $180 Exc GST

The results of your estimated tax obligation are based on the information you provide at the time of calculation. We recommend using this estimate as a source of guidance as you approach tax time. The final amount will be calculated upon lodgement of your business tax return. For greater accuracy and potential tax-saving opportunities professional advice and assistance from a tax agent is advised.

How does company tax work?

In Australia, the amount of company tax an owner has to pay is calculated on their company’s taxable income. Company tax rates are currently set at 30%, however, smaller companies may be eligible for a concession tax rate of 25%. Companies are required to make quarterly payments through the Pay As You Go (PAYG) system and file a yearly tax return.

What if I'm a sole trader?

A sole trader is required to pay tax on their business income. Rather than paying at the company rate (30% or 25%) the individual pays at the progressive tax rate. This means that owners who earn a high income will pay a higher percentage of tax on their income than lower earners. A sole trader is expected to file their tax return annually.

What Is The Company Tax Rate?

In Australia, the company tax rate is set at 30% for most companies, but small businesses with an aggregated turnover of less than $50 million and earning no more than 80% of income from passive sources qualify for a rate of 25%.

How Do I Calculate My Company's Tax Rate?

Calculating your company’s tax in Australia involves determining your taxable income and applying the relevant tax rate.

Follow our step-by-step guide:

Calculate Taxable Income: Subtract allowable deductions from your company’s total income. This includes expenses directly related to earning income, such as operating costs, salaries, and depreciation.

Determine the Company Tax Rate: For larger companies the tax rate is 30%, small businesses with an aggregated turnover of less than $50 million may be eligible for a lower rate of 25%.

Apply the Tax Rate: Multiply your taxable income by the applicable tax rate. This gives you the amount of tax your company is liable to pay.

Example Calculation:

- Assume your company’s taxable income is $200,000.
- If the tax rate is 25%, multiply $200,000 by 25% (0.25) to get $50,000.
- Your company’s tax liability would be $50,000.

Finalise Your Tax Return: Include this tax liability in your company’s tax return, along with any other required information, and lodge it with the Australian Taxation Office (ATO).

We advise seeking professional advice or using tax software to ensure accuracy and compliance with Australian tax laws.

What to include

Your business assessable income must include:

All gross income (before tax) from your everyday business activities including: income from sales (cash, electronic, and internet), foreign income.

All other business income that is not part of your everyday business activities including: cash prizes, capital gains, changes in trading value of stock, cryptocurrencies etc.

Note: Gross income does not include goods and services tax (GST).

What NOT to Include

Some amounts or payments you receive are not classified as assessable income, you do not need to include them in your tax return. Examples of these include: GST you have collected, money you have borrowed or contributed as the owner, earnings from a hobby, gifts or inheritance.

How Do I Actually Claim My Return? Do I Need A Tax Agent?

Claiming your company tax return can be done with or without a tax agent. As a business owner you are required to lodge a tax return annually with the Australian Tax Office (ATO). While it is possible to lodge the return yourself, it is advised to use a tax agent in order to ensure accuracy and compliance with Australian tax standards. Additionally, a tax agent can take valuable time off your hands while also making sure you have the best chance at maximising your tax benefits.

How Do i get a better return for my company?

To get a better return for your company, consider these strategies:

Capitalise on tax deductions and credits
Strategically plan your investments and expenses
Maintain accurate and up-to-date financial records
Seek professional tax advice prior to the end of financial year to optimise your tax position

Some Other Frequently Asked Questions About Company Tax Returns

When are company tax returns due australia?

Company tax returns are generally due by October 31st each year, unless you are lodging through a tax agent, in which case the due date may be later. Visit the ATO website for more information.

Can I Lodge My Company Tax Return Myself?

Yes, you can lodge your company tax return yourself using the ATO’s online services. The myTax portal on the ATO website is a free to use service that will generally finalise tax refunds within two weeks.

Do Dormant Companies Need To File Tax Returns?

Yes, dormant companies are required to lodge a company tax return if they are registered with the Australian Securities and Investments Commission (ASIC).

How To Calculate Total Debt In Company Tax Return?

To calculate total debt in your company tax return, you should calculate the sum of all financial loans and other borrowing arrangements that assisted in the provision of funds for business operation.

What Is Company Tax Planning?

Company tax planning involves strategically managing your company’s finances to minimise tax liabilities and maximise benefits. Planning involves analysing your company’s financial position, identifying tax-saving opportunities, and implementing strategies to optimise your tax position.

Need advice or help tax planning? Reach out today.

For expert advice on company tax planning, tax returns, or any other tax-related queries, contact Taxopia. Our team of tax professionals are dedicated to helping you navigate the complexities of the Australian tax system and maximise your tax benefits. We offer personalised guidance and support tailored to your business needs.

To find out more information, chat with our Live Support Team or fill out an enquiry form on the top-right corner of our website.

LIMITED-TIME OFFER – GET $100 OFF ON BASIC PACKAGE TODAY!*

You’ve chosen TAXOPIA LITE, a self-lodgment service. Please be aware that tax offices are starting to phase-out DIY paper lodgments and are encouraging the transition to digital.

Don’t be the last one to enjoy hassle-free digital lodgments. Upgrade to TAXOPIA BASIC PACKAGE today with a special limited-time $100 discount* and enjoy the benefits of having our accountants lodge for you.

As a bonus benefit for working with us, you get a lodgment deadline extension period to avoid penalties.

*The discount only applies to lodgments for one financial year. For clients requiring lodgment for multiple financial years, the discount applies only on the first year. all succeeding tax returns after that will be at regular price.

For the LITE Package: Please note that is a self lodgment service and does not include electronic lodgment by Taxopia. One of our qualified accountants will prepare your tax return, but it is your responsibility to print, sign & post to ATO to lodge.

GET $100 OFF ON BASIC PACKAGE

Continue With Lite Package

You’ve chosen the Taxopia Lite Package…

TAXOPIA LITE is a self-lodgement service. Please be aware that for majority of tax payers, the due date for self-lodged returns is 31st of October.

If you’re self-lodging overdue tax returns, it may put you at risk of incurring penalties from the ATO. We recommend you upgrade to TAXOPIA BASIC PACKAGE and enjoy the benefits of having our accountants lodge for you and get a lodgement deadline extension period to avoid penalties.

For the LITE Package: Please note that is a self lodgement service and does not include electronic lodgement by Taxopia. One of our qualified accountants will prepare your tax return, but it is your responsibility to print, sign & post to ATO to lodge.

GET STARTED WITH THE BASIC PACKAGE

Continue With Lite Package

Need a fast turnaround?*

If you require your taxes to be completed faster, we have a premium Fast Lane option available for this package which puts your request at the front of the queue of our workflow.

*Excludes public holidays, weekends and office closure dates.

Need a fast turnaround?*

Taxopia’s standard turnaround for this Lite package is three business days. If you require your taxes to be completed faster, we have a premium Fast Lane option available. With this option, pay $220+ GST to get your taxes done within one business day!

*Excludes public holidays, weekends and office closure dates.

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A friendly reminder…

Please note that is a self lodgement service and does not include electronic lodgement by Taxopia. One of our qualified accountants will prepare your tax return, but it is your responsibility to print, sign & post to ATO to lodge.

If this option suits your needs, please click below to get started.

Yes, let’s go!

You’ve chosen the Taxopia Lite Package…

If this option suits your needs, please click below to get started.

Get started now!

* Sole Trader Package pricing conditions, please take note the pricing excludes the following items; however, these services can be provided for an additional cost.

Excludes businesses with turnovers of more than $1 million per year.
Excludes Capital Gains Tax events.
Excludes share trading activities
Excludes fixing bookkeeping errors
Excludes fixing GST errors
Excludes asset finance schedule reconciliations above 2. (i.e. up to 2 asset finance schedules are included)
Excludes year-end adjustment entries to match your bookkeeping figures to the financial statements for all record-keeping software other than Xero

If any of these exclusions apply to your businesses, please contact us, and we would be happy to provide you with a customised quote.

Get started now!

* Premium Package pricing conditions ($1200+ GST):

Includes up to 30-minutes of call support to assist you. Taxopia reserves the right to bill for any additional support that exceeds this time.
Excludes businesses with turnovers of more than $3 million per year
Excludes asset finance schedule reconciliations above 4 (i.e.up to 4 asset finance schedules are included)
Excludes year-end adjustment entries to match your bookkeeping figures to the financial statements for all record-keeping software other than Xero.
Excludes Accountant & Manager support for other unrelated tax years. This support, regarding the tax minimisation and tax position, is only available for the relevant tax year(s) that the service is being provided for.

Please note that ALL our plans exclude the following:

Capital Gains Tax events
Share Trading activities
Fixing Bookkeeping errors
Fixing GST errors
Partnerships that have carried forward losses in excess of $100,000.
Partnerships that have Director(s) or Shareholder(s) loans owing to the company. (Division 7a)

If any of these exclusions apply to your businesses, please contact us, and we would be happy to provide you with a customised quote for any additional work.

Get started now!

* Standard Package pricing conditions ($800+ GST):

Includes up to 30-minutes of call support to assist you. Taxopia reserves the right to bill for any additional support that exceeds this time.
Excludes businesses with turnovers of more than $1 million per year.
Excludes asset finance schedule reconciliations above 2. (i.e. up to 2 asset finance schedules are included)
Excludes Accountant Tax Adviser support for other unrelated tax years. This support, regarding the tax minimisation and tax position, is only available for the relevant tax year(s) that the service is being provided for.

Please note that ALL our plans exclude the following:

Capital Gains Tax events
Share Trading activities
Fixing Bookkeeping errors
Fixing GST errors
Partnerships that have carried forward losses in excess of $100,000.
Partnerships that have Director(s) or Shareholder(s) loans owing to the company. (Division 7a)

If any of these exclusions apply to your businesses, please contact us, and we would be happy to provide you with a customised quote for any additional work.

Get started now!

* Basic Package pricing conditions: ($400+ GST):

Includes up to 15-minutes of call support to assist you. Taxopia reserves the right to bill for any additional support that exceeds this time.
Excludes businesses with turnovers of more than $300,000 per year.
Excludes Partnerships that hold property or share portfolios.
Excludes us preparing depreciation schedules and calculation.
Under this package, we do not accept summarised excel spreadsheets, unless your partnership turnover is below $30,000 per year. Financial data must come from an Accounting platform where either you can grant us access to generate the reports from, or you create the reports yourself and send them through to us.

If you do not qualify for this option, you will need to consider our Standard Package ($800+ GST).

Please note that ALL our plans exclude the following:

Capital Gains Tax events
Share Trading activities
Fixing Bookkeeping errors
Fixing GST errors
Partnerships who have carried forward losses in excess of $100,000.
Partnerships who have Director(s) or Shareholder(s) loans owing to the company. (Division 7a)

Please contact us for a customised quote if you require help on any of the excluded items.

Get started now!

Company or Trust Tax Return for Accountants & Bookkeepers

* BASIC PLAN ($400+ GST) CONDITIONS:

Includes up to 15-minutes of call support to assist you. Taxopia reserves the right to bill for any additional support that exceeds this time.
Excludes businesses with turnovers of more than $300,000 per year.
Excludes Companies or Trusts who hold property or share portfolios.
Excludes preparation of depreciation schedules and calculations.
Under this package, we do not accept summarised excel spreadsheets, unless your company turnover is below $30,000 per year. Financial data must come from an Accounting platform where either you can grant us access to generate the reports from, or you create the reports yourself and send them through to us.
Can accommodate Companies or Trusts who have carried forward losses in excess of $100,000 for an additional fee of 75$
Fixing Bookkeeping errors: an additional $80/hour will be charged

* STANDARD PLAN ($800+ GST) CONDITIONS:

Includes up to 30-minutes of call support to assist you. Taxopia reserves the right to bill for any additional support that exceeds this time.
Excludes businesses with turnovers of more than $1 million per year.
Excludes asset finance schedule reconciliations above 2. (i.e. up to 2 asset finance schedules are included)
Excludes Accountant Tax Adviser support for other unrelated tax years. This support, regarding the tax minimisation and tax position, is only available for the relevant tax year(s) that the service is being provided for.
Can accommodate Companies or Trusts who have carried forward losses in excess of $100,000
Fixing Bookkeeping errors: an additional $65/hour will be charged

Please note that ALL our plans exclude the following:

Capital Gains Tax events
Share Trading activities
Fixing GST errors
Companies or Trusts who have Director(s) or Shareholder(s) loans owing to the company. (Division 7a)

If any of these exclusions apply to your businesses, please contact us, and we would be happy to provide you with a customised quote for any additional work.

Get started now!

* Premium Package pricing conditions ($1200+ GST):

Includes up to 30-minutes of call support to assist you. Taxopia reserves the right to bill for any additional support that exceeds this time.
Excludes businesses with turnovers of more than $3 million per year
Excludes asset finance schedule reconciliations above 4 (i.e.up to 4 asset finance schedules are included)
Excludes year-end adjustment entries to match your bookkeeping figures to the financial statements for all record-keeping software other than Xero.
Excludes Accountant & Manager support for other unrelated tax years. This support, regarding the tax minimisation and tax position, is only available for the relevant tax year(s) that the service is being provided for.
Can accommodate Companies or Trusts who have carried forward losses in excess of $100,000
Fixing Bookkeeping errors: an additional $80/hour will be charged

Please note that ALL our plans exclude the following:

Capital Gains Tax events
Share Trading activities
Fixing GST errors
Companies or Trusts who have Director(s) or Shareholder(s) loans owing to the company. (Division 7a)

If any of these exclusions apply to your businesses, please contact us, and we would be happy to provide you with a customised quote for any additional work.

Get started now!

* Standard Package pricing conditions ($800+ GST):

Includes up to 30-minutes of call support to assist you. Taxopia reserves the right to bill for any additional support that exceeds this time.
Excludes businesses with turnovers of more than $1 million per year.
Excludes asset finance schedule reconciliations above 2. (i.e. up to 2 asset finance schedules are included)
Excludes Accountant Tax Adviser support for other unrelated tax years. This support, regarding the tax minimisation and tax position, is only available for the relevant tax year(s) that the service is being provided for.
Can accommodate Companies or Trusts who have carried forward losses in excess of $100,000
Fixing Bookkeeping errors: an additional $80/hour will be charged

Please note that ALL our plans exclude the following:

Capital Gains Tax events
Share Trading activities
Fixing GST errors
Companies or Trusts who have Director(s) or Shareholder(s) loans owing to the company. (Division 7a)

If any of these exclusions apply to your businesses, please contact us, and we would be happy to provide you with a customised quote for any additional work.

Get started now!

* Basic Package pricing conditions: ($400+ GST):

Includes up to 15-minutes of call support to assist you. Taxopia reserves the right to bill for any additional support that exceeds this time.
Excludes businesses with turnovers of more than $300,000 per year.
Excludes Companies or Trusts who hold property or share portfolios.
Excludes preparation of depreciation schedules and calculations.
Under this package, we do not accept summarised excel spreadsheets, unless your company turnover is below $30,000 per year. Financial data must come from an Accounting platform where either you can grant us access to generate the reports from, or you create the reports yourself and send them through to us.
Can accommodate Companies or Trusts who have carried forward losses in excess of $100,000 for an additional fee of 75$
Fixing Bookkeeping errors: an additional $80/hour will be charged

If you do not qualify for this option, you will need to consider our Standard Package ($800+ GST).

Please note that ALL our plans exclude the following:

Capital Gains Tax events
Share Trading activities
Fixing GST errors
Companies who have Director(s) or Shareholder(s) loans owing to the company. (Division 7a)

Please contact us for a customised quote if you require help on any of the excluded items.

Get started now!