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Australia flag Australia:

Presentation of Australia : Taxation

GST: Goods and Services Tax
Company Tax :
Corporate tax: 30%
Reduced corporate tax (for companies with an annual aggregated turnover below AUD 50 million): 25% for the 2021/22 income year and after
Withholding Taxes :
  • Dividends: 0% (residents, where TFN provided)/30% (unfranked dividends paid to non-residents where no treaty relief is available);
  • Interest: 0% (residents, where TFN provided)/10% (non-residents);
  • Royalties: 0% (residents)/30% (non-residents)
Social Security Contributions Paid By Employers :
A supperannuation fund or retirement savings account contribution of 9.5% of the employee's ordinary time earnings (OTE) base (up to AUD 50,810 per quarter) is paid by employers. This rate is expected to be maintained until 30 June 2021. From 1 July 2021, the rate will increase to 10% and will progressively increase up to 12% from 1 July 2025.
Other Domestic Resources
Australian Taxation Office (ATO)
Consult Doing Business Website, to obtain a summary of the taxes and mandatory contributions.

Country Comparison For Corporate Taxation

  Australia OECD United States Germany
Number of Payments of Taxes per Year 11.0 10.1 10.6 9.0
Time Taken For Administrative Formalities (Hours) 105.0 163.6 175.0 218.0
Total Share of Taxes (% of Profit) 47.4 41.6 36.6 48.8

Source: Doing Business - Latest available data.

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Latest Update: June 2022