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Tax confusion could prove costly

Companies of all sizes, including the local branches of multinationals, are likely to be hit with penalties for unwittingly lodging tax returns based on incorrect rates of tax, experts have warned.

Tax confusion could prove costly
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Small businesses in Australia are progressively becoming eligible for the lower rate of 27.5 per cent based on annual "aggregated turnover" thresholds – $10 million in the first year but $25 million and $50 million in the following years.

Read the full article on the Australian Financial Review.

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