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  • Corporate Tax

    AT A GLANCE

    OUR JURISDICTIONS —

    Corporate Tax

    LAST UPDATED 24/05/2023

    AT A GLANCE

    Introduction

    If you’re doing business in Australia, or planning to do so, it’s important to understand the country’s corporate tax laws. Here’s what you need to know:

    Overview

    Companies that are residents of Australia are subject to Australian income tax on their worldwide income. Meanwhile, non-resident companies are typically taxed only on income sourced from Australia, unless they qualify for an exemption under a double taxation agreement (DTA).

    Corporate Tax Rates

    All companies in Australia are subject to a federal tax rate of 30% on their taxable income. However, small or medium-sized businesses are subject to a reduced tax rate of 25%, provided that their total annual turnover (along with certain connected entities) is less than AUD 50 million.

    To ensure integrity, companies must also meet strict requirements to qualify for the reduced tax rate, including a limit on the percentage of passive income they derive.

    Local Income Taxes

    There are no state or municipal taxes on income in Australia, which simplifies the tax system for businesses operating in the country.

    How Tax Natives works.

    Tax Natives is an international tax network that connects Explorers (taxpayer clients) with Natives (qualified and regulated tax advisers) from one jurisdiction to another.

    Ask a question to get started

    STEP ONE

    Select the 'Ask a question button located on the top of each page and follow through the process to compose your question

    STEP TWO

    Once your question is confirmed and your account is set up, navigate to your user dashboard to view the message exchange between you and your Tax Native.

    STEP THREE

    Each Tax Native has to accept a question from an Explorer before a conversation can begin. Once the Tax Native has accepted your question, a quote will be submitted for approval through the messaging portal.

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