Whether the new profit tax rate 16.5% for 2008/2009? If my financial year end in December. Should I paid the tax for 1-12/2008 at 16.5% or 17.5% for the whole period.
At 1-12/2008 is under financial year 2008/2009 charge at 16.5%.
Supplement info:
At 1-12/2007 is under financial year 2007/2008 charge at 17.5% which you would enjoy 75% (Maximum $25,000) deduction on your CO profit tax payment.
Actual assessable profit will be charged at 17.5% as the basis period (Accounting period ended 31 December, 2007) is still in the year of assessment 2007/08. However, any provisional tax for 2008/09 will be charged at 16.5%