Tax Facts
Companies
The rates of tax for all companies and some associations are as follows:
| Year |
Rate |
|---|---|
2000 |
36 |
2001 |
34 |
From 1 July 2001 |
30 |
Companies are required to maintain a franking account on a tax paid basis and are not entitled to a refund of imputation credits that exceed the tax payable.
Companies are not entitled to the 50% discount on the disposal of assets that are held for at least 12 months
