CRP 2017/D1 –Commissioner’s remedial power – amending the Foreign Resident CGT withholding regime so vendors get the benefit of withholding credits in the year the CGT is payable – for sales that straddle year end
On Friday 7 April 2017, the Commissioner of Taxation issued a draft determination: the Taxation Administration (Remedial Power-Foreign Resident Capital Gains Withholding Tax) Determination 2017. This is a draft of the first determination under the Commissioner’s power, in s370-5 of Sch 1 to the TAA (TAA1) to remedy defects in the taxation law by making such a…