Archive: Australia
New Zealand: officials’ update report on taxation of multinationals
April 23, 2013. Tags: Australia, base erosion, corporate tax, New Zeeland, OECD, profit shifting, thin capitalization, withholding tax
On 18 April 2013, the Minister of Revenue released an officials’ report giving an update on the actions being undertaken to combat multinational companies paying …
Improving the transparency of Australia’s business tax system – discussion paper released
April 9, 2013. Tags: Australia, business tax, income tax, transparency
The Assistant Treasurer released a discussion paper on the proposed law changes that will require the Australian Taxation Office (ATO) to publish the gross revenues, …
Australia: ATO releases large business compliance manual
April 2, 2013. Tags: Australia, income tax, tax audit, tax compliance, tax risk
The Australian Taxation Office (ATO) released, on 26 March 2013, the Large Business Active Compliance Manual – Income Tax, which is an internal document providing …
A review of Australia’s new anti-avoidance rules [TAX ALERT]
March 20, 2013. Tags: anti-avoidance, Australia, GAAR
The Australian Government has re-engineered the transfer pricing law for international business transactions and adjusted the general ant avoidance rule (Part IVA, Australia’s GAAR). The …
The impact of Australia’s new transfer pricing rules [TAX ALERT]
March 13, 2013. Tags: Australia, transfer pricing
The Australian Government has re-engineered the transfer pricing law for international business transactions and adjusted the general antiavoidance rule (Part IVA, Australia’s GAAR). The Tax Laws …
Australia: tax paid by multinationals to be publicly disclosed
February 11, 2013. Tags: Australia, corporate tax, tax compliance
The Assistant Treasurer announced today, on 4 February 2013, that the Government will commence consultations to require large and multinational businesses that operate in Australia …
Australia: proposed changes to taxation of financial arrangements
January 17, 2013. Tags: Australia, Financial Services
On 11 January 2013, the Treasury released for comment Exposure Draft legislation and an Explanatory Memorandum dealing with technical changes to the Taxation of Financial …
Business tax reform in Australia
January 4, 2013. Tags: Australia, business tax, dispute, international tax, tax reform
Australia recently formed the Business Tax Working Group to focus on reducing taxes on new investments to encourage Australian businesses to undertake more entrepreneurial activities.
Australia and Costa Rica: exchange of information agreement ratified by Costa Rica
January 3, 2013. Tags: Australia, Costa Rica, information-exchange
On 26 September 2012, Costa Rica ratified the Australia–Costa Rica Exchange of Information Agreement (2011), by way of Law No. 9075, as published in the …
New rules mean major changes to Australian transfer pricing [TAX ALERT]
December 14, 2012. Tags: Australia, tax law, transfer pricing
An exposure draft law was released on 22 November 2012 to introduce new Australian transfer pricing rules with significant self assessment and documentation requirements. The start …
New start date for proposed amendments to Australia’s general anti-avoidance rule [TAX ALERT]
December 1, 2012. Tags: anti-avoidance, Australia, income tax, tax amendments, tax assessment
On 16 November 2012, Australia’s Assistant Treasurer David Bradbury released draft legislation and explanatory material (EM) containing the proposed changes, initially announced by the Australian …
Australia: update to general anti-avoidance rules – draft legislation released for comment
November 28, 2012. Tags: anti-avoidance, Australia, GAAR
The Treasury released for comment an exposure draft legislation and explanatory memorandum amending the current income tax general anti-avoidance provisions (GAAR) with a view to …
Australia: The carbon pricing mechanism
November 15, 2012. Tags: Australia, carbon tax, Cleantech, GST, income tax
The carbon price mechanism will directly impact the 500 businesses that will be liable to pay the carbon price, and it will indirectly affect all other Australian businesses. Learn how.
Australia and United States: Australia to negotiate FATCA agreement with United States
November 14, 2012. Tags: Australia, FATCA, United States of America
On 7 November 2012, the Treasurer announced that Australia and the United States have commenced formal discussions for an intergovernmental agreement to minimize the impact …
Australia: taxation of trust income – consultation paper released
November 14, 2012. Tags: Australia, income tax, tax policy, tax reform
On 6 November 2012, the Treasury released a policy paper on options for the reform of taxation of trust income. The release of the paper follows …
Australia: final report on the reduction in the corporate tax rate
November 12, 2012. Tags: Australia, corporate tax, tax policy
The Business Tax Working Group of the Treasury issued on 2 November 2012 the final report on the impact of the proposed reduction in the …
Australia: allocation of funding costs to bank branches
November 9, 2012. Tags: Australia, bank tax, foreign, tax administration
The Australian Taxation Office (ATO) released three interpretative decisions (ID) that deal with an allocation of funding costs to Australian branches of foreign banks. The ATO …
Australia: review of the ATO’s use of compliance risk assessment tools announced
November 6, 2012. Tags: Australia, tax assessment, tax compliance, tax risk
On 31 October 2012, the Inspector-General of Taxation announced a review of the use of compliance risk assessment tools by the Australian Taxation Office (ATO). The …
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