News in brief… 17 May 2022

ATO update: How to determine lower company tax rate eligibility

ATO update: How to determine lower company tax rate eligibility The Australian Taxation Office (ATO) has released a guide to help a corporate entity determine if it is eligible for a reduced company tax rate of 25 percent. According to the ATO, if the company – including a corporate unit trust or a public trading trust – is a ‘base rate entity’ for an income year, its company tax rate is 25 percent from the 2021-2022 income year onwards. To be eligible to be a ‘base rate ent...

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Published Date: 17 May 2022