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Small business company tax unchanged; individuals get a cut

Posted 6 months ago in Advisors by Demian Mclean
Posted by Demian Mclean

The Australian budget for fiscal 2018-19 was unveiled tonight. There were tax cuts for individuals, which include sole traders and family partnerships, but little new in the way of tax relief for corporations.  Corporate entities will have to wait for the government’s existing 10-year tax plan to win parliamentary approval before they see any cuts.

Follow our live coverage of budget night on Twitter.

The new personal tax rates are below. The corporate rates, which are unchanged, can be found here.

For more analysis of the federal budget, head to our Small Business Insights page, where you can also find our special reports on wage growth and how tax cuts affect employer behaviour.

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