Grange Business Partners

Change in Company Tax Rate from 1 July 2015

The government announced in the budget that the company tax rate for companies operating a small business will be reduced to 28.5%.  Accordingly, any income that can be deferred until after 30 June 2015 will result in an immediate tax saving of 1.5%.

The maximum franking credit rate for a distribution from these companies will remain at 30%, subject to the company having available franking credits.

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