The lower house of parliament approved the nation’s double taxation agreement on 4 June 2014. The DTA will enter in to force after both countries have completed their respective domestic requirements and ratification by both parties.
Canada confirming South Korean FTA Terms
Related Posts
Australia: ATO publishes MoU with Japan on arbitration procedures
The Australian Taxation Office (ATO) has published a Memorandum of Understanding (MoU) with Japan, outlining the specific arbitration procedures established between the governments of both countries to resolve unresolved tax disputes. It serves
Read MoreAustralia: ATO strengthens compliance action on over-claimed expenses, GST credits
The Australian Taxation Office (ATO) announced on 8 July 2026 enhanced compliance measures targeting businesses that intentionally overstate deductible expenses and GST credit claims. ATO is strengthening compliance action on businesses that
Read MoreAustralia consults 30% minimum tax for discretionary trusts
Australia has opened a consultation on the implementation of a proposed 30% minimum tax for discretionary trusts on 8 July 2026. The proposed 30% minimum tax for discretionary trusts is scheduled to take effect from 1 July 2028. The proposal,
Read MoreAustralia: ATO warns super holders with balances above AUD 3 million to prepare for Division 296 tax
The Australian Taxation Office (ATO) announced on 7 July 2026 that the Better Targeted Super Concessions (Division 296) are now law and will come into effect for the 2026–27 financial year onwards. That means from 1 July 2026, individuals with
Read MoreAustralia enacts twin tax reform Acts, overhauls CGT discount, adds minimum tax rate on capital gains
Australia has enacted the Treasury Laws Amendment (Tax Reform No. 1) Act 2026 (Act No. 49 of 2026) and the Income Tax Rates Amendment (Tax Reform No. 1) Act 2026 (Act No. 50 of 2026), with both Acts receiving the royal assent on 26 June
Read MoreAustralia: ATO raises penalty unit for infringements from July 2026
The Australian Taxation Office (ATO) has updated its guidance on penalty units to reflect an increase in the penalty unit value on 26 June 2026. For infringements occurring on or after 1 July 2026, the penalty unit amount has increased to AUD 364,
Read More