Reduced company tax rate from 2013/14

The government has announced that the company tax rate will be reduced to 29% from 2013/14, and to 28% from 2014/15.

It was recommended in the AFTS Report that the company tax rate be reduced to 25% over the short to medium term, with the timing subject to economic and fiscal circumstances (Rec 27).

Ref: Stronger, Fairer, Simpler — Fact Sheets, p 1; AFTS Report to the Treasurer, Part One Overview, p 86.