IMF Report Recommends Tax and Spending Reforms for Australia
On 15 February 2026 the IMF issued a report following consultations with Australia under Article IV of the IMF’s articles of agreement. Economic growth increased to 2.1%, year on year, in the third quarter of 2025, as private demand recovered,
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Australia consults amendments to minimum tax regime in line with OECD administrative updates
Australia's Treasury has initiated a public consultation on proposed amendments to the Taxation (Multinational—Global and Domestic Minimum Tax) Rules 2024 from 16 February - 13 March 2026. The draft amending rules, titled the Taxation
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Australia: ATO publishes 2026 supplementary annual GST return
The Australian Taxation Office has published the 2026 Supplementary annual GST return along with its supporting instructions on 16 February 2026. The supplementary annual GST return (SAGR) is an annual reporting requirement for Top 100 and Top
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Australia: ATO updates monthly foreign exchange rates for the 2025–26 income year
The Australian Taxation Office (ATO) has updated its foreign exchange rate guidance, which includes Monthly exchange rates for 1 July 2025 to 30 June 2026, and monthly rates for October, November, and December 2025, and January 2026. As per the
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J5 warns OTC crypto desks and processors enable tax evasion, money laundering
The Joint Chiefs of Global Tax Enforcement (J5) published two law enforcement advisories on 11 February 2026 that detail how over-the-counter (OTC) cryptocurrency trading desks and cryptocurrency payment processors may be used to obfuscate and move
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Australia: ATO confirms formalisation of GIR MCAA agreement
The Australian Taxation Office has updated its global and domestic minimum tax guidance on 9 February 2026 to reflect Australia's signing of the Multilateral Competent Authority Agreement on the Exchange of GloBE Information Return (GIR MCAA), which
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Australia: ATO updates guidance on risk indicators for privately owned, high-wealth groups
The Australian Taxation Office (ATO) has released updated guidance on What attracts our attention, outlining the behaviours, characteristics, and tax matters that may draw scrutiny. The guidance highlights a wide range of factors associated with
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Australia: ATO clarifies eligibility for AUD 20,000 instant asset write-off for 2025–26
The Australian Taxation Office (ATO) has published a release outlining eligibility for the AUD 20,000 instant asset write-off for the 2025–26 income year on 3 February 2026. If a business has an aggregated annual turnover of less than $10
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Australia joins GIR MCAA
The OECD has reported that Australia signed the Multilateral Competent Authority Agreement on the Exchange of GloBE Information (GIR MCAA) on 28 January 2026. The agreement is designed to enable the automatic exchange of GloBE Information Returns
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Australia: ATO announces availability of reportable tax position schedule for 2026
The Australian Taxation Office (ATO) has released the reportable tax position (RTP) schedule and accompanying instructions for the 2026 income year on 29 January 2026. Companies are generally required to lodge an RTP schedule if their total
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Australia: ATO releases new SGE guidance for large private groups
The Australian Taxation Office (ATO) has released new guidance for large privately owned and wealthy groups (private groups) on assessing and reporting SGE status on 29 January 2026. Where a private group includes an entity that is, or may be, a
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Australia to consult thin capitalisation reforms
Australia’s government has asked the Board of Taxation to independently review the recent changes to Australia’s thin capitalisation rules. These changes were introduced in Schedule 2 of the Treasury Laws Amendment (Making Multinationals Pay
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Australia: ATO issues guidance on Pillar 2 side-by-side package
The Australian Taxation Office (ATO) has updated its guidance on the global and domestic minimum tax on 23 January 2026, adding a new section to reflect the side-by-side package announced earlier in January 2026. The OECD has announced an
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Australia: ATO warns unclaimed GST, fuel tax credits will expire after four years
The Australian Taxation Office (ATO) announced on 14 January 2026 that GST credits and fuel tax credits will expire if not claimed within the four-year time limit. In 2024, the ATO published Miscellaneous Taxation Ruling MT 2024/1 Miscellaneous
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Australia: ATO issues warning on contrived related party deals in property sector
The Australian Taxation Office (ATO) issued a taxpayer alert on 14 January 2026 cautioning property developers against contrived arrangements involving related parties that may raise compliance concerns. The alert, TA 2026/1, addresses contrived
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Australia: ATO publishes recap of November Pillar 2 information session
The Australian Taxation Office (ATO) published, on 9 January 2026, a recap of its November 2025 information session on implementing the global and domestic minimum tax under Pillar 2. The session was aimed at supporting multinational enterprise
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Australia: ATO finalises exemptions for Pillar 2 tax filings, GloBE-aligned global minimum tax amendments
The Australian Taxation Office (ATO) has released updated guidance on Pillar 2 compliance, and finalised its first round of technical updates to its global and domestic minimum tax framework. The updated guidance, published on 6 January 2026,
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Australia: ATO announces GIC, SIC rates for Q3 2025-26
The Australian Taxation Office (ATO) announced the general interest charge (GIC) rates and shortfall interest charge (SIC) rates for the third quarter of the 2025-26 income year on 9 December 2025. For the quarter commencing on 1 January 2026,
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