Original article by Sid Maher
The Australian – Page: 1 & 4 : 3-May-16

The Australian Government’s May 2016 Budget will include a one per cent reduction in the small and medium enterprise tax rate, to 27.5 per cent. The lower tax rate is expected to apply to companies with turnover of up to $A5m, compared with a threshold of $A2m at present. Unincorporated businesses and sole traders are also expected to receive tax relief in the Budget. However, the tax rate for large companies will remain at 30 per cent, although the Government plans to progressively reduce it to 25 per cent.

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AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY