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Jun 19, 2024 · When to apply the lower company tax rate and how to work out franking credits. There are changes to the company tax rates. The full company tax rate is 30% and lower company tax rates are available in some years.
- Company tax rates
Company tax rates for the 2001-02 to 2010-11 income years....
- Tax rates 2023–24
Tax rates 2023–24. The following rates of tax apply to...
- Company tax rates
May 29, 2024 · Company tax rates for the 2001-02 to 2010-11 income years. QC 17534. Print or Download. Find out company tax rates from 2001–02 to 2023–24.
May 29, 2024 · Tax rates 2023–24. The following rates of tax apply to companies for the 2023–24 income year.
Jun 27, 2024 · Last reviewed - 27 June 2024. Companies, other than those that qualify as a CCIV (see below), that are residents of Australia are subject to Australian income tax on their worldwide income. Generally, non-resident companies are subject to Australian income tax on Australian-sourced income only.
As of 2024, the company tax rate in Australia varies depending on the size and type of the business, with different rates applied to small businesses and larger corporations. Economic conditions, government policies, and legislative changes are key factors influencing adjustments to tax rates.
The legislated rate changes are such that from 1 July 2024, the tax cuts will: (All dollar figures expressed are Australian dollars) reduce the 19 percent tax rate to 16 percent; reduce the 32.5 percent tax rate to 30 percent; increase the threshold above which the 37 percent tax rate applies from $120,000 to $135,000;
Below is a range of useful tax rates for small and medium sized businesses that apply for the 2024-25 year including: - individual marginal tax rates. - company tax rates. - reasonable domestic and overseas travel allowance amounts. - acceptable amounts for goods taken from stock for private use by business owners.
