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Great news! The government has finally legislated the change in company tax rates - and it applies from 1 July 2016!

This means that small businesses - defined for the 2017 year as businesses with a turnover of less than $10M - will now have a company tax rate of 27.5%.

For all other companies, including those that are not in business, the tax rate will remain at 30%.

For further information, please click here.

If you have questions regarding how this might affect you, please contact our office.

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The information provided by Bentleys (Sunshine Coast) Pty Ltd does not constitute financial product advice and is for general information only. It is written without taking into account any individuals personal objectives, situation or needs, and is not intended as professional advice. Any person acting upon such information without receiving specific advice, does so entirely at their own risk. Please contact your Accountant to discuss your personal situation before relying on this information.