Tax Rates For Companies

Created by Danilo Echeverri, Modified on Wed, 30 Oct, 2024 at 2:38 PM by Danilo Echeverri

The tax rates for companies are based on:

1. The company’s aggregated turnover for that income year is less than the aggregated turnover threshold for that income year, as shown below:

INCOME YEAR	AGGREGATED TURNOVER THRESHOLD	TAX RATE FOR TAX BASE ENTITIES	TAX RATE FOR ALL OTHER COMPANIES
2017-2018	$ 25m	27.50%	30%
2018–19 to 2019–20	$ 50m	27.50%	30%
2020–21	$ 50m	26%	30%
2021–22 and future years	$ 50m	25%	30%

2. If income year has 80% or less of it's assessable income classified as base rate entity passive income, this replaces the requirement to be carrying on a business from the 2017–18 income year onwards.