On 11 July 2017, the OECD released the draft contents of the 2017 Update to the OECD Model Tax Convention. Interested parties were invited to provide comments with respect to the following parts of the 2017 Update to the OECD Model Tax Convention that had not previously been released for comments: Changes to paragraph 13 of the…
Treasury received 8 submissions in relation to its December 2016 Consultation Paper on Australia’s adoption of the OECD BEPS Multilateral Instrument. The submissions, which have now been released by Treasury, were made by: Australian Private Equity & Venture Capital Association Limited Chartered Accountants Australia and New Zealand Corporate Tax Association Ernst & Young Insurance Council of Australia…
Labor Bill proposes lowering the turnover threshold, from $200,000 to $100,000 for public reporting of private company tax information (like public companies have their tax information reported by the Commissioner). On Monday 14.8.17, Senator Gallagher (ALP ACT, Manager of Opposition business in the Senate) introduced the Taxation Administration Amendment (Corporate Tax Entity Information) Bill 2017…
The Budget Measures Bill 2017 (SA) was passed by the SA House of Assembly on 10 August 2017 with 10 Government amendments and now moves to the Legislative Council. The amendments concern the foreign ownership surcharge. Where a resident person or trust acquires an interest in land only to later become a foreign person or trust within…