On 12 May 2015, Australia's Treasurer Joe Hockey delivered the 2015 Budget. The main tax related measures are summarized as follows.
Tougher Anti-Avoidance Rules
A new targeted anti-avoidance law will be introduced aimed at multinationals that have entered into schemes to artificially avoid having a taxable presence in Australia. This approach will be taken instead of a diverted profits tax that was to be developed with assistance from the UK.
The general conditions where the new anti-avoi…