Sunshine Coast Region, Queensland
Business Accountant in Maroochydore
25% or 30%, and a director ID before the board meeting
Company tax, structuring and compliance for Maroochydore companies and their directors, from a CPA practice.
Horton Parade is the centre of Maroochydore's CBD, with Sunshine Plaza and the Coast's main bus interchange close by. When the golf club moved to Bli Bli in May 2015, the council was able to develop its land into Sunshine Central, a new city centre for the region. In the 2021 Census, Professionals made up 20.5% of the suburb's employed residents and Managers 12.6%.
A commercial centre since 1908
Maroochydore in brief.
In 1908 Surveyor Thomas O'Connor carved the town out of the Cotton Tree reserve; a post office followed on 4 October 1922. The suburb had 20,629 residents in 2021, and 13.7% of employed residents worked at home.
Three questions for company owners
Does the company pay 25% or 30%?
Why it happens
A company's tax rate depends on its turnover and on what kind of income it earns.
Why it matters
A company is a base rate entity, taxed at 25%, if its aggregated turnover is under $50 million and 80% or less of its assessable income is base rate entity passive income, such as dividends and franking credits, rent, royalties, most interest and net capital gains. Other companies pay 30%. A company whose income is mostly rent or investments can fail the test even with small turnover.
How we help
We help business owners gain clarity, confidence, and control over their finances so they can make smarter decisions and focus on growth.
Connected entities in the turnover test
Why it happens
The owners run more than one company or trust.
Why it matters
Aggregated turnover includes the turnover of connected and affiliated entities, and leaving them out is a common cause of the wrong rate. For franking, the test uses the previous year's figures.
How we help
Choosing the right structure influences tax outcomes, asset protection, and how your operations scale. List every entity the owners control before the return is prepared.
A director ID before appointment
Why it happens
A company adds a director, or a new company is registered.
Why it matters
A person planning to become a director of a Corporations Act company must apply for a director ID before being appointed, and can apply up to 12 months ahead. Each director needs only one ID for life, and applying is free. It is a criminal offence not to apply on time, and ASIC enforces it.
How we help
That includes registrations, governance documents, and a simple plan for ongoing compliance.
Frequently asked questions
Does my Maroochydore company pay 25% or 30% tax?
25% if aggregated turnover is under $50 million and 80% or less of its assessable income is passive income; otherwise 30%.
What counts as passive income for the test?
Dividends and franking credits, rent, royalties, most interest, gains on qualifying securities and net capital gains, including amounts from trusts and partnerships traceable to them.
When do I need a director ID?
Before you are appointed as a director. You can apply up to 12 months in advance, online through myID, by phone or on paper.
Where to next
Main page
Business accountant on the Sunshine Coast
Nearby areas
- Business accountant in Mooloolaba
- Business accountant in Kunda Park
- Business accountant in Coolum Beach
Related services
Get in touch
Have a question?
Check the company's rate
Structuring and asset protection to support expansion and reduce risk.
Lomandra Accounting is a CPA Practice, registered with the Tax Practitioners Board and an SMSF Specialist. Emma, the Director, is a Certified Practicing Accountant (CPA) with extensive experience in commercial business management, and specialises in Self-Managed Super Funds (SMSFs).
- 07 5234 9201
- admin@lomandraa.com.au
- Sunshine Coast, QLD
- Monday to Friday, 9am to 4:30pm