The federal government released the 2024-2025 Mid-Year Economic and Fiscal Outlook (MYEFO) on 18 December  2024. The 2024-25 MYEFO did not introduce any significant tax reforms, but outlined several noteworthy tax proposals. The 2024–25 MYEFO

Australia has published the Taxation Administration (Country by Country Reporting Jurisdictions) Determination 2024, listing jurisdictions for public Country-by-Country (CbC) reporting on 12 December 2024. Notably, Liechtenstein has been excluded

The National Assembly of Korea (Rep.) approved the ratification of the income tax treaty with Rwanda on 14 November 2024. The treaty was signed on 13 September 2023. It is the first of its kind between the two nations. It will become effective

The Australian Taxation Office (ATO) has issued a new taxpayer alert (TA2024/2) on 12 December 2024 targeting arrangements designed to bypass Division 7A requirements. The arrangements involve a profitable private company guaranteeing a loan made

Australia’s Queensland government has proposed the Revenue Legislation Amendment Bill 2024 to Parliament, which proposes full transfer duty relief for first-home buyers. The bill amends the Duties Act 2001 to offer full duty relief for

Korea’s National Assembly has approved the free trade agreement (FTA) with the Philippines on 14 November 2024. Earlier, the Philippine Senate ratified the FTA with Korea (Rep.) on 23 September 2024. The  FTA was signed by both nations on 7