Company Tax Rates 2015
Tax rates 2015–16
The following rates of tax apply to companies for the 2015–16 income year.
| Companies | Rate % |
|---|---|
|
This includes corporate limited partnerships, strata title bodies corporate, trustees of corporate unit trusts and public trading trusts:
|
28.5
30 |
| Life insurance companies | |
|
Ordinary class of taxable income |
30 |
|
Complying super class of taxable income Additional tax on no-TFN contributions income where the company is a retirement savings account (RSA) provider |
15
34 |
| RSA providers other than life insurance companies | |
|
RSA component of taxable income Additional tax on no-TFN contributions income |
15
34 |
|
Standard component of taxable income |
Rate applicable to institution |
| Pooled development funds (PDFs)
For tax rates where a company either starts or ceases to be a PDF during the income year – refer to Appendix 4 of the Company tax return instructions |
|
|
Small and medium sized enterprises income component |
15 |
|
Unregulated investment component |
25 |
|
Other |
30 |
| Credit unions | |
|
Small credit unions – under $50,000
– otherwise |
28.5
30 |
|
Medium credit unions – $50,000 to $149,999
|
42.75
45 |
|
Large credit unions – $150,000 and over
– otherwise |
28.5 30 |
| Small credit unions are taxed on all their taxable income, but note the treatment of mutual interest.
Interest derived by small credit unions is exempt from tax if all of the following apply:
Credit unions with a notional taxable income of at least $50,000 but less than $150,000 are taxed on their taxable income above $49,999. Credit unions with a notional taxable income of $150,000 or more are taxed on all of their taxable income. A credit union’s notional taxable income is defined in subsection 6H(5) of ITAA 1936. |
|
| Non-profit companies | |
| Non-profit companies with a taxable income of between $417 and $915 are taxed on their taxable income above $416.
Non-profit companies with a taxable income above $915 are taxed on all of their taxable income. Taxable income |
|
| $0–$416
$417–$915 $916 and above |
Nil
55 30 |
| Non-profit companies that are small business entities | |
| For income years beginning on or after 1 July 2015, non-profit companies that are small business entities with a taxable income of between $417 and $863 are taxed on their taxable income above $416.
If their taxable income is above $863, they will be taxed on all of their taxable income. Taxable income |
|
| $0–$416
$417–$863 $864 and above |
Nil
55 28.5 |
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