On 16 October 2014, the law amending Australia's rules on foreign dividend exemption was enacted. The legislation provides for the following key changes:
- The wording of the exemption application is changed from when an Australian company holds a 10% "voting interest" of a foreign company to a 10% "participating interest", and from dividends made in respect of a "voting interest" to made in respect of an "equity interest" - the reason for the change is to disallow the exemption in respect of …