Australia: ATO releases discussion paper on thin capitalization rules for foreign bank branches

The Australian Taxation Office (ATO) announced the general interest charge (GIC) rates and shortfall interest charge (SIC) rates for the fourth quarter of the 2026-27 income year on 5 June 2026. For the quarter commencing on 1 July 2026, the GIC

The Australian Taxation Office (ATO) has updated its guidance on 19 June 2026 regarding requests for mutual agreement procedures (MAPs) to resolve cross-border tax disputes arising from alleged violations of double taxation agreements (DTAs). This

The Australian government has announced additional implementation details for its tax reform package on 18 June 2026 following an extensive first phase of post-Budget consultations. The package includes a significant expansion of small business

The Australian Taxation Office (ATO) has recently issued guidance on the XML file requirements for the GloBE Information Return (GIR), offering clarification to assist filers in completing specific GIR data elements. When preparing the GloBE

The Australian Taxation Office (ATO) has released updated guidance on 11 June 2026 clarifying how residency under double tax agreements can be demonstrated in structures involving fiscally transparent entities. Fiscally transparent entities and

Australia's largest accounting body, CPA Australia, has sounded a warning over the government's newly introduced Treasury Laws Amendment Bill 2026, cautioning that the legislation risks making the tax system more complex rather than simpler. The