The Australian Parliament passed previously announced legislation on 25 September 2014 which includes changes to the thin capitalization rules, a rewrite of the exemption for foreign non-portfolio dividends received by Australian companies, and amendment of the foreign resident capital gains tax concession rules. The thin capitalization changes are effective for years starting on or after 1 July 2014. The existing exemption for Australian companies receiving non-portfolio dividends from foreign companies will no longer apply for distributions made after the date of Royal Assent of the Act, and the replacement by the new rules will commence for distributions made after the date of Royal Assent of the Act.
Related Posts
Australia: ATO reminds MNEs of Pillar Two lodgment deadline
The Australian Taxation Office (ATO) in a reminder on 11 June 2026 announced that the first Pillar Two lodgments for Australian in-scope multinational enterprise groups (MNE groups) and their advisers are due on 30 June 2026. This includes the GloBE
Read MoreAustralia: ATO updates public CbC reporting guidance
The Australian Taxation Office (ATO) issued new guidance on public country-by-country (CbC) reporting on 9 June 2026. Australia's public CbC reporting rules apply to reporting periods commencing on or after 1 July 2024, with reports required to be
Read MoreAustralia: ATO issues guidance on reporting income earned through digital platforms or apps
The Australian Taxation Office (ATO) has released general guidance on reporting income earned through digital platforms or apps on 3 June 2026. Money earned through digital platforms or apps is sharing economy income and must be reported in a tax
Read MoreAustralia: ATO issues updated guidance on maximum contribution base for super guarantee
The Australian Taxation Office (ATO) has updated its guidance on the maximum contributions base (MCB) for superannuation guarantee contributions on 3 June 2026. Employers are not required to pay super guarantee once an employee’s earnings
Read MoreAustralia proposes bill to overhaul capital gains tax
Australia’s government has introduced legislation aimed at reshaping property tax concessions and easing pressure on the housing market, marking one of the country’s most significant tax reform efforts in decades. The bill, tabled in
Read MoreAustralia: ATO adopts OECD common understanding for Pillar Two GIR filing
The Australian Taxation Office (ATO) has updated its guidance on the Global and Domestic Minimum Tax and Lodging, Paying and Other Obligations for Pillar Two on 26 May 2026. The updates incorporate the OECD’s common understanding released on 18
Read More