On 23 December 2024 the IMF staff issued a report following consultations with Australia under Article IV of the IMF’s articles of agreement. Economic growth is projected increase gradually, from 1.2% in 2024 to 2.1% in 2025. Real income growth

The Australian Taxation Office (ATO) has published updated guidance on the local and master file requirements – which applies to reporting periods beginning on or after 1 January 2024 –, and transfer pricing guidance for the private property and

The New Zealand Inland Revenue has announced updates to the Use of Money Interest (UOMI) rates for underpayments and overpayments on 18 December 2024. The revised rates are set at  10.88% (down from 10.91%) for underpayments and 4.30% (down from

The Australian Taxation Office (ATO) announced the general interest charge (GIC) rates and shortfall interest charge (SIC) rates for the third quarter of the 2024-25 income year on 9 December 2024. For the quarter commencing on 1 January 2025,

The Australian Treasury has launched a public consultation to review secrecy exceptions for tax regulators in light of the PwC tax leak scandal. The consultation is set to conclude on 28 February 2025. The PwC tax leaks exposed limitations in

The Australian Taxation Office has updated the guidance on the Global and Domestic Minimum Tax on 23 December 2024. This includes the subordinate legislation which outlines detailed computational rules under the Taxation (Multinational—Global and