On 4 June 2014, the Australia Taxation Office issued a taxation determination stating the conditions where the reduced dividend withholding tax benefits of the Australia-U.K. tax treaty will apply when a nominee shareholder holds shares of an Australian company for the benefit of a U.K. company. The conditions include:
- The nominee shareholder owns shares carrying at least 10 per cent of the voting power in the Australian company for the benefit of the U.K. company; and
- The U.K. company must …