Business tax changes take effect
Two important business tax changes take effect from the start of the 2008-2009 income tax year (1 April 2008 for most businesses). They are:
- A cut in the company tax rate (CTR) from 33 per cent to 30 per cent, for all entities taxed at the company rate; and
- A 15% tax credit (15 cents in each dollar) for businesses doing eligible research and development (R&D).
Find out more about the R&D tax credit
Find out more about the company tax rate change
Date published: 28 Mar 2008
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