OrbitaxAustralian Parliament Passes Legislation on Eligibility for Reduced Corporate Tax Rate
|Approved Changes|Australia
On 23 August 2018, a revised version of the Treasury Laws Amendment (Enterprise Tax Plan Base Rate Entities) Bill 2017 was passed by both houses of the Australian Parliament. The legislation amends the Income Tax Rates Act 1986 to provide that a corporate tax entity (base rate entity) would only qualify for Australia's reduced corporate tax rate for an income year if:
- no more than 80% of the …
