Australia: Publication of changes in Pension Taxation
The Australian government has published a plan for the tax exemption on pension earnings in superannuation accounts to be capped at $100,000, with any amounts above that threshold to be taxed at 15%. Currently a 15% tax applies to earnings from
See MoreAustralia: New Transfer Pricing Legislation
On 13 February 2013, the Federal Government introduced legislation on 13 February containing new Australian Transfer Pricing Laws. These are largely consistent with the Exposure Draft (ED), released in November 2012. The new enactment adjusts
See MoreAustralia: New Transfer Pricing Rules
On 22 November 2012, an exposure draft was released introducing new Australian transfer pricing rules with significant self assessment and documentation requirements. Interested parties were invited to comment on the exposure draft. The start date
See MoreAustralia – Proposed amendments of transfer pricing rules
The Australian Assistant Treasurer has recently Tax Laws Amendment (Cross-Border Transfer Pricing) Bill 2013: Modernization of transfer pricing rules,in which changes to transfer pricing rules were proposed. The new law focuses mainly on
See MoreAustralian Parliament Passes Fund Manager Tax Reforms
The Australian government has loosened the tax requirements on the financial services industry in an effort to remove any barriers to the use of Australian fund managers by international investors. The Tax Laws Amendment (Investment Manager Regime)
See MoreTIEA signed between Australia and Liechtenstein enters into force
According to media reports, the tax information exchange agreement (TIEA) signed between Australia and Liechtenstein on June 21, 2011, entered into force on June 22,
See MoreAustralia: Detail tax incentives for infrastructure projects
The government of Australia proposed some incentives through its infrastructure projects to cover the tax loss and promote the private investment. The motto was to develop its infrastructure to remain a competitive economic nation for the
See MoreAustralia: New tax working group has been announced
A new tax working group has been announced in Australia to look at reforms that could increase productivity and deliver tax relief to struggling businesses. Developing a set of savings options within business tax, such as broadening the base and
See MoreAustralia: Introduced Carbon tax bill
After months of controversy the Australian government has finally introduced the carbon tax bill into parliament. The legislation will be effective from July 1, 2012. After long scientific research and economic analysis the government has decided
See MoreAustralia:Proposal to reduce tax savings
Australian government has published a discussion paper on the proposal to reduce the taxation on the interest income on savings by 50%, as proposed in the 2010-11 Budget. It is expressed that the introduction of the discount will benefit more than
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