The following rates of tax apply to companies for the 2011–12 income year.
This includes corporate limited partnerships, strata title bodies corporate, trustees of corporate unit trusts and public trading trusts
Life insurance companies
Ordinary class of taxable income
Complying super and first home saver account (FHSA) class of taxable income
Additional tax on no-TFN contributions income where the company is a retirement savings account (RSA) provider
RSA providers other than life insurance companies
RSA component of taxable income
Additional tax on no-TFN contributions income
FHSA component (if any) of taxable income
Standard component of taxable income
Rate applicable to institution
FHSA providers that are authorised deposit-taking institutions (ADIs) other than RSA providers
FHSA component of taxable income
Trustees of FHSA trusts
Pooled development funds (PDFs)
Special tax rates apply where a company either starts or ceases to be a PDF during the income year – refer to Appendix 4 of the Company tax return instructions 2011
Small and medium sized enterprises income component
Unregulated investment component
Small credit unions – under $50,000
Medium credit unions – $50,000 to $149,999
Large credit unions – $150,000 and over
Small credit unions are taxed on all their taxable income, but note the treatment of mutual interest.
Interest derived by small credit unions is exempt from tax if all of the following apply:
Credit unions with a notional taxable income of at least $50,000 but less than $150,000 are taxed on their taxable income above $49,999.
Credit unions with a notional taxable income of $150,000 or more are taxed on all of their taxable income.
A credit union's notional taxable income is the amount that would be its taxable income if section 23G of ITAA 1936 did not apply and Division 9 of Part III of ITAA 1936 had not been enacted.
Non-profit companies with a taxable income of between $417 and $915 are taxed on their taxable income above $416.
Non-profit companies with a taxable income above $915 are taxed on all of their taxable income.
$916 and above
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