The Australian Taxation Office (ATO) recently published two articles concerning the lower company tax rate for incorporated small and medium businesses and changes to small business tax concessions. The article on the lower company tax rate includes that for base rate entities with turnover less than AUD 50 million per annum, the lower tax rate is 27.5% for the 2018-19 to 2019-20 income years and will be reduced to 26.0% for the 2020-21 income year and to 25.0% from the 2021-22 income year.…