The coalition government’s policies on company tax have been under the spotlight for over two years. A proposal was made in the 2016/17 federal Budget to lower the company tax rate to 25%, regardless of company size. Even in 2018, repeated efforts to implement this proposal have been amended or defeated by the Senate, leading to some confusion as to the state of the current rules. More news on this to follow.
Note: At the time of writing there are no bills before parliament that would significantly alter the rules governing the company tax rate.
The information contained in this publication is based on the understanding KeyInvest (ABN 74 087 649 474 AFSL No. 240667) has of the relevant Australian legislation as at the date shown in this publication.
The information contained in this publication is of a general nature only and is intended for use by financial advisers and other licensed professionals only. It must not be handed to clients for their keeping nor can any copies of sections of this publication be given to clients. KeyInvest is not a registered tax agent under the Tax Agent Services Act 2009. We recommend that your client be referred to their registered tax agent or legal adviser prior to implementing any recommendations that you may make based on the information contained in this publication.