Company tax rates

Tax rates 2011-12

The following rates of tax apply to companies for the 2011-12 income year.

Companies	Rate %
This includes corporate limited partnerships, strata title bodies corporate, trustees of corporate unit trusts and public trading trusts	30
Life insurance companies
Ordinary class of taxable income	30
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	15   31.5
RSA providers other than life insurance companies
The RSA component of taxable income Additional tax on no-TFN contributions income	15 31.5
The FHSA component (if any) of taxable income	15
The standard component of taxable income	Rate applicable to institution
FHSA providers that are authorised deposit-taking institutions (ADIs) other than RSA providers
The FHSA component of taxable income	15
The standard component of taxable income	Rate applicable to institution
Trustees of FHSA trusts
Taxable income	15
Pooled development funds (PDFs) Special tax rates apply where a company either starts or ceases to be a PDF during the income year - see Appendix 4 of the 2011 Company Tax Return Instructions
Small and medium sized enterprises income component	15
Unregulated investment component	25
Other	30
Credit unions
Small credit unions - under $50,000	30
Medium credit unions - $50,000 to $149,999	45
Large credit unions - $150,000 and over	30
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: the credit union is an approved credit union the interest is paid to the credit union by its non-company members in respect of loans it made to those members. 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
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. Taxable income
$0-$416 $417-$915 $916 and above	Nil 55 30