Tax rates 2024–25

Companies

2024–25 tax rates – Companies (see note 1)

Income category	Rate (%)
Base rate entities	25
Otherwise	30

Note 1: This includes corporate limited partnerships, strata title bodies corporate, trustees of corporate unit trusts and public trading trusts.

Life insurance companies

2024–25 tax rates – Life insurance companies

Income category	Rate (%)
Ordinary class of taxable income	30
Complying superannuation class of taxable income	15
Additional tax on no-TFN contributions income where the company is a retirement savings account (RSA) provider	32

RSA providers other than life insurance providers

2024–25 tax rates – RSA providers other than life insurance providers

Income category	Rate (%)
RSA component of taxable income	15
Additional tax on no-TFN contributions income	32
Standard component of taxable income: Base rate entity	25
Standard component of taxable income: Otherwise	30

Pooled development funds

2024–25 tax rates – Pooled development funds (PDFs) (see note 2)

Income category	Rate (%)
Small and medium sized enterprises income component	15
Unregulated investment component	25
The amount that exceeds the PDF component: Base rate entity	25
The amount that exceeds the PDF component: Otherwise	30

Note 2: For tax rates 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.

Credit unions

2024–25 tax rates – Credit unions (see note 3)

Income category	Rate (%)
Small credit unions – under $50,000: Base rate entities	25
Small credit unions – under $50,000: Otherwise	30
Medium credit unions – $50,000 to $149,999: Base rate entities	37.5
Medium credit unions – $50,000 to $149,999: Otherwise	45
Large credit unions – $150,000 and over: Base rate entities	25
Large credit unions – $150,000 and over: Otherwise	30

Note 3: 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 both:

• 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 their taxable income. A credit union's notional taxable income is defined in subsection 6H(5) of the Income Tax Assessment Act 1936 (ITAA 1936).

Not-for-profit companies

2024–25 tax rates – Not-for-profit companies (see note 4)

Income category	Rate (%)
Taxable income: $0–$416	Nil
Taxable income: $417–$915	55
Taxable income: $916 and above	30

Note 4: Not-for-profit companies with a taxable income of between $417 and $915 are taxed on their taxable income above $416. Not-for-profit companies with a taxable income above $915 are taxed on all their taxable income.

Not-for-profit companies that are base rate entities

2024–25 tax rates – Not-for-profit companies that are base rate entities (see note 5)

Income category	Rate (%)
Taxable income: $0–$416	Nil
Taxable income: $417–$762	55
Taxable income: $763 and above	25

Note 5: For the 2024–25 income year, not-for-profit companies that are base rate entities with a taxable income of between $417 and $762 are taxed on their taxable income above $416.