Business gets two-year tax cut amnesty

Original article by Joanna Mather
The Australian Financial Review – Page: 3 : 19-Oct-17

The Federal Government has introduced legislation to clarify whether a company qualifies for the 27.5 per cent tax rate for small businesses. It hopes to end the uncertainty regarding the application of the lower tax rate to passive investment companies. The amendments introduced on 18 October state that a company will not qualify for the lower tax rate if it derives more than 80 per cent of its income from passive sources, which include interest and dividends. The new test for a passive investment company will apply from the start of the current financial year.

CORPORATES
AUSTRALIA. DEPT OF FINANCE, AUSTRALIAN TAXATION OFFICE, BDO CHARTERED ACCOUNTANTS AND ADVISERS, CPA AUSTRALIA

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s