The lower company tax rate will apply to base rate entities with a turnover less than $50 million in the 2018–19 income year. The rate will then reduce to 25% by the 2026–27 income year.
| Income year | Turnover threshold | Tax rate for base rate entities under the threshold | Tax rate for all other companies |
|---|---|---|---|
| 2017–18 | $25m | 27.5% | 30.0% |
| 2018–19 to 2023–24 | $50m | 27.5% | 30.0% |
| 2024–25 | $50m | 27.0% | 30.0% |
| 2025–26 | $50m | 26.0% | 30.0% |
| 2026–27 | $50m | 25.0% | 30.0% |
