Explain briefly Australia Tax Law?  What rates of tax do Laurel Co and Hardy Co pay for the income year? 

Laurel Co and Hardy Co are companies that have less than 80% of their assessable income made up of base entity passive income in the 2021/22 income year. Laurel Co has aggregated turnover of $20m and Hardy Co has aggregated turnover of $60m in the income year.

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In Australia tax laws govern how businesses are taxed on their incom... View the full answer