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.