Thai and Vietnamese DTAs to be modified by MLI
March 4, 2022
Thailand and Vietnam signed the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (the "MLI"), joining 97 other jurisdictions.
...
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FIRB: Purchasing residential real estate in Australia
March 4, 2022
Foreign persons need to obtain approval from them before purchasing Australian residential real estate. They can do this by using the FIRB application form,
After approval and a property...
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$450 per month threshold removal for SG now law
March 4, 2022
From 1 July 2022, employees who earn less than $450 per month will be paid super guarantee by their employer if they satisfy other eligibility requirements. A change advice to update pay...
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ATO: Private Wealth – withholding tax on overseas royalties
February 24, 2022
The ATO’s International Risk for Private Groups Program has launched a campaign focusing on non-resident withholding tax relating to royalty expenses paid overseas for the 2019 and 2020 ...
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ATO: Trusts Tax Avoidance Taskforce
February 24, 2022
The ATO have released information on its Tax Avoidance Taskforce – Trusts, which targets higher risk trust arrangements in privately owned and wealthy groups.
The ATO Trusts taskforce ...
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ATO: Division 7A and concern with unit trust arrangements
February 24, 2022
The ATO have raised concerns about a number of arrangements involving unpaid present entitlements and unit trusts that may have implications under Division 7A.
The ATO have identified ca...
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ATO: Division 7A and UPEs
February 24, 2022
For unpaid present entitlements (UPEs) on or after 1 July 2022, the Commissioner's view in Draft Taxation Determination TD 2022/D1 is that even if not converted to an ordinary loan, a UP...
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ATO releases s100A and UPE draft guidance
February 24, 2022
The ATO has released a package of draft advice and guidance products, setting out its evolving view on the tax treatment of:
trust entitlements arising out of reimbursement agreements u...
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Commercial debt forgiveness: love and affection exclusion finalised
February 17, 2022
Taxation Determination TD 2022/1 finalises the ATO's position on the "natural love and affection" exclusion in the commercial debt forgiveness rules. The key point in TD 2022/1 is that the ...
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Reimbursement arrangement s 100A
February 17, 2022
The Commissioner has lodged a notice of appeal to the Full Federal Court from the decision in Guardian AIT Pty Ltd ATF Australian Investment Trust v FCT [2021] FCA 1619.
The Federal Cou...
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