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The Australian budget for fiscal 2018-19 was unveiled last 8th May. 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.

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.

Have questions?

If you have any questions, please contact us

Innovatus Group

Lvl 1, Bld 6, 205 Leitchs Road Brendale QLD 4500

Ph: 1300 138 119

[email protected]

Innovatus Australia Pty Ltd is a registered tax agent under Tax Practitioners Board (TPB)

 

 

The Small business company tax unchanged; individuals get a cut article originally appeared in Xero blog.

Summary
Small business company tax unchanged; individuals get a cut
Article Name
Small business company tax unchanged; individuals get a cut
Description
The Australian budget for fiscal 2018-19
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Xero
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