We talk about small business entity again!
For your 2016 tax return, the small business company tax rate has been reduced from 30% to 28.5%. This lower rate also applies to small businesses that are corporate unit trusts and public trading trusts. This tax rate cut will save much money for your company.
The franking credit cap still remains unchanged at 30%! (even if you are eligible for the reduced company tax rate of 28.5%).
Talk to our professionals if you want to know more!