No, ABN has nothing to do with tax rate.The tax rate is governed...

No, ABN has nothing to do with tax rate.

The tax rate is governed by the structure.

ie Superfund 15%, company 30%, minors 48% and individuals 17 - 48%.

if you are in business the 48% is the amount you withhold from your creditor if they do not have an ABN.

Of course they do get credit for the 48% when they lodge their income tax returns.

And by the way pmac, Chartered Accountants although the may be more TERTIARY qualified they do not necessarily have MORE experience or knowledge than other Accountants. Experience and being street wise is what clients need !

Many Chartered Accountants work in large corporate enviroments and in public practice tend to have larger clients giving people like huggy a Franklins type service. For my liking the majority are far too straight and put the ATO before the client.

Of course this is my opinion and veiw and without doubt there are some good Chartered Accountants working in Public Practice with little people but they are few and far between!...my experience...my opinion!

and pmac...if you are one...no disrespect intended as I do not know you :)