Tax rates 2011–12 to 2020–21

Tax rates 2020–21

The following rates of tax apply to companies for the 2020–21 income year.

Companies

2020–21 tax rates – Companies (see note 1)
Income category	Rate (%)
Base rate entities	26
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

2020–21 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

2020–21 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 Otherwise	26 30

Pooled development funds

2020–21 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 Otherwise	26 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

2020–21 tax rates – Credit unions (see note 3)
Income category	Rate (%)
Small credit unions – under $50,000: Base rate entities	26
Small credit unions – under $50,000: Otherwise	30
Medium credit unions – $50,000 to $149,999: Base rate entities	39
Medium credit unions – $50,000 to $149,999: Otherwise	45
Large credit unions – $150,000 and over: Base rate entities	26
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 ITAA 1936.

Not-for-profit companies

2020–21 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

2020–21 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–$788	55
Taxable income: $789 and above	26

Note 5: For the 2020–21 income year, not-for-profit companies that are base rate entities with a taxable income of between $417 and $788 are taxed on their taxable income above $416.

If their taxable income is above $788, they will be taxed on all their taxable income.

Tax rates 2019–20

The following rates of tax apply to companies for the 2019–20 income year.

Companies

2019–20 tax rates – Companies (see note 1)
Income category	Rate (%)
Base rate entities	27.5
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

2019–20 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

2019–20 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 Otherwise	27.5 30

Pooled development funds

2019–20 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 Otherwise	27.5 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

2019–20 tax rates – Credit unions (see note 3)
Income category	Rate (%)
Small credit unions – under $50,000: Base rate entities	27.5
Small credit unions – under $50,000: Otherwise	30
Medium credit unions – $50,000 to $149,999: Base rate entities	41.25
Medium credit unions – $50,000 to $149,999: Otherwise	45
Large credit unions – $150,000 and over: Base rate entities	27.5
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 ITAA 1936.

Not-for-profit companies

2019–20 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

2019–20 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–$831	55
Taxable income: $832 and above	27.5

Note 5: For the 2019–20 income year, not-for-profit companies that are base rate entities with a taxable income of between $417 and $831 are taxed on their taxable income above $416.

If their taxable income is above $831, they will be taxed on all their taxable income.

Tax rates 2018–19

The following rates of tax apply to companies for the 2018–19 income year.

Companies

2018–19 tax rates – Companies (see note 1)
Income category	Rate (%)
Base rate entities	27.5
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

2018–19 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

2018–19 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 Otherwise	27.5 30

Pooled development funds

2018–19 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 Otherwise	27.5 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

2018–19 tax rates – Credit unions (see note 3)
Income category	Rate (%)
Small credit unions – under $50,000: Base rate entities	27.5
Small credit unions – under $50,000: Otherwise	30
Medium credit unions – $50,000 to $149,999: Base rate entities	41.25
Medium credit unions – $50,000 to $149,999: Otherwise	45
Large credit unions – $150,000 and over: Base rate entities	27.5
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 ITAA 1936.

Not-for-profit companies

2018–19 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

2018–19 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–$831	55
Taxable income: $832 and above	27.5

Note 5: For the 2018–19 income year, not-for-profit companies that are base rate entities with a taxable income of between $417 and $831 are taxed on their taxable income above $416.

If their taxable income is above $831, they will be taxed on all their taxable income.

Tax rates 2017–18

The following rates of tax apply to companies for the 2017–18 income year.

Companies

2017–18 tax rates – Companies (see note 1)
Income category	Rate (%)
Base rate entities	27.5
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

2017–18 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

2017–18 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 Otherwise	27.5 30

Pooled development funds

2017–18 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 Otherwise	27.5 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

2017–18 tax rates – Credit unions (see note 3)
Income category	Rate (%)
Small credit unions – under $50,000: Base rate entities	27.5
Small credit unions – under $50,000: Otherwise	30
Medium credit unions – $50,000 to $149,999: Base rate entities	41.25
Medium credit unions – $50,000 to $149,999: Otherwise	45
Large credit unions – $150,000 and over: Base rate entities	27.5
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 ITAA 1936.

Not-for-profit companies

2017–18 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

2017–18 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–$831	55
Taxable income: $832 and above	27.5

Note 5: From the 2017–18 income year, not-for-profit companies that are base rate entities with a taxable income of between $417 and $831 are taxed on their taxable income above $416.

If their taxable income is above $831, they will be taxed on all their taxable income.

Tax rates 2016–17

The following rates of tax apply to companies for the 2016–17 income year.

Companies

2016–17 tax rates – Companies (see note 1)
Income category	Rate (%)
Small business entities (See Small business company tax rate)	27.5
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

2016–17 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	34

RSA providers other than life insurance providers

2016–17 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	34
Standard component of taxable income	Rate applicable to institution

Pooled development funds

2016–17 tax rates – Pooled development funds (PDFs) (see note 2)
Income category	Rate (%)
Small and medium sized enterprises income component	15
Unregulated investment component	25
Other	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

2016–17 tax rates – Credit unions (see note 3)
Income category	Rate (%)
Small credit unions – under $50,000: Small business entities	27.5
Small credit unions – under $50,000: Otherwise	30
Medium credit unions – $50,000 to $149,999: Small business entities	41.25
Medium credit unions – $50,000 to $149,999: Otherwise	45
Large credit unions – $150,000 and over: Small business entities	27.5
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 ITAA 1936.

Not-for-profit companies

2016–17 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 small business entities

2016–17 tax rates – Not-for-profit companies that are small business entities (see note 5)
Income category	Rate (%)
Taxable income: $0–$416	Nil
Taxable income: $417–$831	55
Taxable income: $832 and above	27.5

Note 5: For income years beginning on or after 1 July 2015, not-for-profit companies that are small business entities with a taxable income of between $417 and $831 are taxed on their taxable income above $416.

If their taxable income is above $831, they will be taxed on all their taxable income.

Tax rates 2015–16

The following rates of tax apply to companies for the 2015–16 income year.

Companies

2015–16 tax rates – Companies (see note 1)
Income category	Rate (%)
Small business entities (See Small business company tax rate)	28.5
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

2015–16 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	34

RSA providers other than life insurance providers

2015–16 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	34
Standard component of taxable income	Rate applicable to institution

Pooled development funds

2015–16 tax rates – Pooled development funds (PDFs) (see note 2)
Income category	Rate (%)
Small and medium sized enterprises income component	15
Unregulated investment component	25
Other	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 2016.

Credit unions

2015–16 tax rates – Credit unions (see note 3)
Income category	Rate (%)
Small credit unions – under $50,000: Small business entities	28.5
Small credit unions – under $50,000: Otherwise	30
Medium credit unions – $50,000 to $149,999: Small business entities	42.75
Medium credit unions – $50,000 to $149,999: Otherwise	45
Large credit unions – $150,000 and over: Small business entities	28.5
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 ITAA 1936.

Not-for-profit companies

2015–16 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 small business entities

2015–16 tax rates – Not-for-profit companies that are small business entities (see note 5)
Income category	Rate (%)
Taxable income: $0–$416	Nil
Taxable income: $417–$831	55
Taxable income: $832 and above	28.5

Note 5: For income years beginning on or after 1 July 2015, not-for-profit companies that are small business entities with a taxable income of between $417 and $863 are taxed on their taxable income above $416. If their taxable income is above $863, they will be taxed on all their taxable income.

Tax rates 2014–15

The following rates of tax apply to companies for the 2014–15 income year.

Companies

2014–15 tax rates – Companies (see note 1)
Income category	Rate (%)
Taxable income	30

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

Life insurance companies

2014–15 tax rates – Life insurance companies
Income category	Rate (%)
Ordinary class of taxable income	30
Complying superannuation and first home saver account (FHSA) class of taxable income	15
Additional tax on no-TFN contributions income where the company is a retirement savings account (RSA) provider	34

RSA providers other than life insurance providers

2014–15 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	34
FHSA component (if any) of taxable income	15
Standard component of taxable income	Rate applicable to institution

FHSA providers that are authorised deposit-taking institutions (ADIs) other than RSA providers

2014–15 tax rates – FHSA providers that are ADIs other than RSA providers
Income category	Rate (%)
FHSA component of taxable income	15
Standard component of taxable income	Rate applicable to institution

Trustee of FHSA trusts

2014–15 tax rates – Trustee of FHSA trusts
Income category	Rate (%)
Taxable income	15

Pooled development funds

2014–15 tax rates – Pooled development funds (PDFs) (see note 2)
Income category	Rate (%)
Small and medium sized enterprises income component	15
Unregulated investment component	25
Other	30

Note 2: 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 2015.

Credit unions

2014–15 tax rates – Credit unions (see note 3)
Income category	Rate (%)
Small credit unions – under $50,000	30
Medium credit unions – $50,000 to $149,999	45
Large credit unions – $150,000 and over	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 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.

Not-for-profit companies

2014–15 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.

Tax rates 2013–14

The following rates of tax apply to companies for the 2013–14 income year.

Companies

2013–14 tax rates – Companies (see note 1)
Income category	Rate (%)
Taxable income	30

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

Life insurance companies

2013–14 tax rates – Life insurance companies
Income category	Rate (%)
Ordinary class of taxable income	30
Complying superannuation and first home saver account (FHSA) class of taxable income	15
Additional tax on no-TFN contributions income where the company is a retirement savings account (RSA) provider	31.5

RSA providers other than life insurance providers

2013–14 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	31.5
FHSA component (if any) of taxable income	15
Standard component of taxable income	Rate applicable to institution

FHSA providers that are authorised deposit-taking institutions (ADIs) other than RSA providers

2013–14 tax rates – FHSA providers that are ADIs other than RSA providers
Income category	Rate (%)
FHSA component of taxable income	15
Standard component of taxable income	Rate applicable to institution

Trustee of FHSA trusts

2013–14 tax rates – Trustee of FHSA trusts
Income category	Rate (%)
Taxable income	15

Pooled development funds

2013–14 tax rates – Pooled development funds (PDFs) (see note 2)
Income category	Rate (%)
Small and medium sized enterprises income component	15
Unregulated investment component	25
Other	30

Note 2: 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 2014.

Credit unions

2013–14 tax rates – Credit unions (see note 3)
Income category	Rate (%)
Small credit unions – under $50,000	30
Medium credit unions – $50,000 to $149,999	45
Large credit unions – $150,000 and over	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 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.

Not-for-profit companies

2013–14 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.

Tax rates 2012–13

The following rates of tax apply to companies for the 2012–13 income year.

Companies

2012–13 tax rates – Companies (see note 1)
Income category	Rate (%)
Taxable income	30

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

Life insurance companies

2012–13 tax rates – Life insurance companies
Income category	Rate (%)
Ordinary class of taxable income	30
Complying superannuation and first home saver account (FHSA) class of taxable income	15
Additional tax on no-TFN contributions income where the company is a retirement savings account (RSA) provider	31.5

RSA providers other than life insurance providers

2012–13 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	31.5
FHSA component (if any) of taxable income	15
Standard component of taxable income	Rate applicable to institution

FHSA providers that are authorised deposit-taking institutions (ADIs) other than RSA providers

2012–13 tax rates – FHSA providers that are ADIs other than RSA providers
Income category	Rate (%)
FHSA component of taxable income	15
Standard component of taxable income	Rate applicable to institution

Trustee of FHSA trusts

2012–13 tax rates – Trustee of FHSA trusts
Income category	Rate (%)
Taxable income	15

Pooled development funds

2012–13 tax rates – Pooled development funds (PDFs) (see note 2)
Income category	Rate (%)
Small and medium sized enterprises income component	15
Unregulated investment component	25
Other	30

Note 2: 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 2013.

Credit unions

2012–13 tax rates – Credit unions (see note 3)
Income category	Rate (%)
Small credit unions – under $50,000	30
Medium credit unions – $50,000 to $149,999	45
Large credit unions – $150,000 and over	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 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.

Not-for-profit companies

2012–13 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.

Tax rates 2011–12

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

Companies

2011–12 tax rates – Companies (see note 1)
Income category	Rate (%)
Taxable income	30

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

Life insurance companies

2011–12 tax rates – Life insurance companies
Income category	Rate (%)
Ordinary class of taxable income	30
Complying superannuation and first home saver account (FHSA) class of taxable income	15
Additional tax on no-TFN contributions income where the company is a retirement savings account (RSA) provider	31.5

RSA providers other than life insurance providers

2011–12 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	31.5
FHSA component (if any) of taxable income	15
Standard component of taxable income	Rate applicable to institution

FHSA providers that are authorised deposit-taking institutions (ADIs) other than RSA providers

2011–12 tax rates – FHSA providers that are ADIs other than RSA providers
Income category	Rate (%)
FHSA component of taxable income	15
Standard component of taxable income	Rate applicable to institution

Trustee of FHSA trusts

2011–12 tax rates – Trustee of FHSA trusts
Income category	Rate (%)
Taxable income	15

Pooled development funds

2011–12 tax rates – Pooled development funds (PDFs) (see note 2)
Income category	Rate (%)
Small and medium sized enterprises income component	15
Unregulated investment component	25
Other	30

Note 2: 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 2012.

Credit unions

2011–12 tax rates – Credit unions (see note 3)
Income category	Rate (%)
Small credit unions – under $50,000	30
Medium credit unions – $50,000 to $149,999	45
Large credit unions – $150,000 and over	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 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.

Not-for-profit companies

2011–12 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.