Company Tax Rate Reduced!

Company Tax Rate Reduced!

Are you?	- Involved with a company?
At a glance:	- The Government has announced it will be lowering the Company Tax Rate from the current 30% as recommended by the Henry Tax Review.
You should:	- Be aware of the proposed drop in the company tax rate. - Contact us if you require any clarification or advice.

1.	The Government will be lowering the company tax rate to make Australia more competitive on a global stage.
2.	Under the proposed reform, the company tax rate will be reduced to 29% for the 2014 income year, with a further reduction to 28% from the 2015 income year. Special rules apply for companies that qualify as small businesses.
3.	The savings to companies from the reduced tax rate will be funded through the introduction of the "Resources Super Profits Tax" to be introduced in 2012.
4.	It is expected that lowering the company tax rate will see increased investment into Australia, which will result in higher productivity and economic growth.
5.	Visit the Tax Review website at www.futuretax.gov.au for more information.