Original article by Jacob Greber
The Australian Financial Review – Page: 3 : 19-Sep-17
Financial Services Minister Kelly O’Dwyer has confirmed that passive investment companies will not benefit from the reduced company tax rate of 27.5 per cent. The reduced rate applies to firms with turnover below $A50 million, but entities which generate more than 80 per cent of their income from passive assets such as share dividends will not qualify. Tax experts note that there will be both "winners and losers" from her decision, which comes after months of uncertainty over what types of companies would benefit from the tax cut.
AUSTRALIA. DEPT OF FINANCE, AUSTRALIAN TAXATION OFFICE, CHARTERED ACCOUNTANTS AUSTRALIA AND NEW ZEALAND, AUSTRALIA. DEPT OF THE TREASURY, INSTITUTE OF PUBLIC ACCOUNTANTS LIMITED