CONTINUE TO BACK AUSTRALIAN BUSINESS AND INVESTMENT
In the 2016-17 financial year, the reduced corporate tax rate of 27.5% will apply for businesses with an aggregated turnover of less than $10m; $25m turnover in 2017-18; and $50m turnover from 2018-19. This effectively implements the first 3 years of the Government’s 10-year plan for company tax cuts
WHAT THIS MEANS FOR YOU ?
The Government is driving economic growth by legislating tax cuts for all businesses, prioritising small to medium businesses, delivering infrastructure that supports industries and jobs, and targeting incentives to promote research, development and new technology. This will make our businesses more competitive so they can grow and hire more Australians.