Australia Tax News

Report on Attribution of Profits to PEs released

24 February 2007

Corporate income tax puts Australia's international competitiveness at risk

15 January 2007

Clarification of exemptions from interest withholding tax

15 January 2007

Treaty between Australia and Finland signed

17 December 2006

Helicopter is large enough to be a PE

17 December 2006

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.

17 December 2006

Treaty between Australia and Japan to be renegotiated

17 December 2006

Review of CFC and FIF rules

12 November 2006

Treaty between Norway and Australia

12 November 2006

Treaty between Australia and Norway – details

12 September 2006

Treaty between Australia and France – details

13 August 2006

Taxation of Australian residents performing independent services for Italian entity explained

13 August 2006

Protocol to treaty between New Zealand and Australia approved

11 July 2006

Australian treatment of shipping and aircraft leasing profits of UK and US enterprises

11 July 2006

Australian Taxation Office explains interaction between tie-breaker clause in treaty between Australia and New Zealand and domestic tax legislation

11 July 2006

ATO denies interest withholding tax exemption to a US pension fund

11 July 2006

Treaty between Australia and France signed

11 July 2006

Australian Taxation Office denies interest withholding tax exemption to US financial institution

11 July 2006

Budget for 2006/07 – details

14 June 2006

Treaty between Australia and US – ATO explains its understanding of LoB article

14 June 2006

Draft Taxation Ruling on application of "same business test" to tax consolidated groups

14 May 2006

ATO to allow refunds of royalty withholding tax

14 May 2006

Availability of US dependent territories' tax information to Australian tax authorities

14 May 2006

Classification of Korean Hapja Hoesa for Australian income tax purposes

14 May 2006

Taxation ruling on withholding tax on shipping income

9 April 2006

Draft taxation ruling on withholding tax on payments to non-residents for works and related activities

9 April 2006

Protocol to treaty between Australia and New Zealand submitted for ratification

16 March 2006

German state-owned bank not exempt from interest withholding tax

19 February 2006

French Court of Appeals decision on debt waivers granted to branches of foreign subsidiary by French parent company published

19 February 2006

Following a reduction in withholding tax rates in the 2001 protocol to the Australia-US tax treaty, Australia is required under the most-favoured-nation clause in its existing treaty with Korea (Rep.) to renegotiate the 1982 Australia-Korea (Rep.) treaty.

19 February 2006