Company Rates of Tax – 2018/19

A reduced corporate tax rate applies in respect of a corporate tax entity that is a Base Rate Entity ('BRE'). For the 2019 income year, a company is a BRE if, in that year:

 

  1. its aggregated turnover is less than $50 million; and
  2. no more than 80% of its assessable income is BRE passive income (as defined in S.23AB of the Income Tax Rates Act 1986).

General Company Tax Rate1

 

Description of Taxpayer

Rate

Corporate tax entity that is a BRE2

27.5%

Private company (non-BRE)

30%

Public company (non-BRE)

30%

Corporate Limited Partnership (non-BRE)

30%

Public Trading Trust (non-BRE)

30%

Strata Title Body Corporate (non-BRE)

30%

  1. This table does not apply to Retirement Savings Account Providers, Life Insurance Companies, Pooled Development Funds, credit unions or non-profit companies. The tax rates for non-profit entities are set out below.
  2. A 'corporate tax entity' (as defined in S.960-115 of the ITAA 1997) includes companies and certain entities taxed as companies (e.g., corporate limited partnerships and public trading trusts).


Non-profit Company Tax Rates (other than BREs)

Taxable Income

Rate

$0 – $416

Nil

$417 – $915

55% of excess over $416

$916+

30% of the entire amount


 

Non-profit BRE Company Tax Rates

Taxable Income

Rate

$0 – $416

Nil

$417 – $832

55% of excess over $416

$833+

27.5% of the entire amount


Last modified: 11 Dec 2019

 

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