Company tax rate for 2018 tax lodgments

ATO has reminded companies that the proposed changes affecting eligibility for the lower company tax rate have not yet passed. This means that the lower 27.5% tax rate continues to apply to base rate entities defined by current law. In the tax return, base rate entities must denote that they are such at item 3 (status of company) and then use the 27.5 tax rate for their calculation station on their net income. Tax rate for companies that are not base rate entities is 30%. Would like to know whether your company qualifies as a base rate entity? Contact us today.

< Back