Reduction in corporate tax rate

JohnnySu

The tax rate for corporate tax entities (CTEs) that are SBEs — i.e. businesses with an annual aggregated turnover of less than $10 million will reduce to 27.5 per cent for the 2016–17 income year.

The 27.5 per cent rate will be extended as follows:
 2017–18 income year — to base rate entities23 (BREs) with an aggregate turnover of less than $25 million; and
 2018–19 income year — to BREs with an aggregate turnover of less than $50 million;

The 27.5 per cent rate will reduce further as follows:
 27 per cent for the 2024–25 income year;
 26 per cent for the 2025–26 income year; and
 25 per cent for the 2026–27 income year.