Treasury Laws Amendment (Enterprise Tax Plan Base Rate Entities) Bill 2017 – 80% passive income test (to retain 30% tax/franking rate) passes Lower House with one Government Amendment

Tax Month - February 2018

The House of Representatives passed the Treasury Laws Amendment (Enterprise Tax Plan Base Rate Entities) Bill 2017  on Thur 8.2.2018, with 1 Government amendment. The purpose of the Bill is to change the basis on which a company can retain the 30% tax rate. This is for companies that otherwise qualify for the lower 27.5% tax/franking…

Treasury Laws Amendment (Enterprise Tax Plan No 2) Bill 2017 passes Lower House – providing remaining 8 years of Government’s reduction in tax rates – down to 25% for all companies

Tax Month - February 2018

On Thursday 8.2.18, the House of Representatives passed the Treasury Laws Amendment (Enterprise Tax Plan No 2) Bill 2017,  without amendment, and the Bill now moves to the Senate. The Bill provides for the remaining 8 years of the Government’s plan to reduce tax rates down, so that all companies pay tax at a 25%…