Australia Tax News
New treaty between Australia and Japan – agreement on general terms
OECD releases revised draft of Part IV (Insurance) of the Report on Attribution of Profits to Permanent Establishments
Bill delivers on earlier promises
Anti-deferral rules clarified
Assignments of copyright subject to withholding tax
General anti-avoidance provision applies to wash sales
Treaty between Australia and India – No PE in Australia for supply chain activities
UK limited liability partnerships are foreign hybrids
Treaty between Finland and Australia presented to Finnish parliament
Protocol to treaty between Australia and New Zealand enters into force
Treaty between India and Australia – Indian decision that data processing costs neither taxable as "royalty" nor "business profit"
Budget for 2007/08 – details
Discussion draft on application and interpretation of non-discrimination article of OECD Model – details
Treaty between Australia and United States – US tax debts not enforceable in
International tax shelter information centre
Tax treaty between Australia and United States – Australia's Federal Court rejects tax treaty override
Revised Commentary on Article 7 of OECD Model released
Transactions with a foreign branch
Agreement between Australia and the Kingdom of the Netherlands in respect of the Netherlands Antilles on exchange of information relating to tax matters signed
Final Report on Improving the Resolution of Tax Treaty Disputes
Report on Attribution of Profits to PEs released
Tax Office investigates cross-border hybrid structures
Treaty between Japan and Australia - negotiations
Clarification of exemptions from interest withholding tax
Corporate income tax puts Australia's international competitiveness at risk
Helicopter is large enough to be a PE
On 1 November 2006, the Treasury released for consultation Discussion Paper on the Interaction of Thin Capitalization Provisions and International Financial Reporting Standards (IFRS). The Paper outlines the need for the current transitional regulations and proposes several options that may be implemented after the transitional regulations expire.
Treaty between Australia and Finland signed
Treaty between Australia and Japan to be renegotiated
Review of CFC and FIF rules
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