Australia strengthens beneficial ownership transparency, expands small business asset deductions
The key measures focus on improved beneficial ownership disclosure for listed entities and the extension of the instant asset write-off for small businesses. The Treasury Laws Amendment (Strengthening Financial Systems and Other Measures) Bill
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Australia, New Zealand agree on arbitration framework under BEPS MLI
The Memorandum of Arrangement sets out rules for arbitration requests, required information, arbitrator appointments, and the overall arbitration process. The Australian Taxation Office (ATO) and New Zealand signed a Memorandum of Arrangement
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Australia: ATO consults targeted taxpayer relief measures
The consultation is open from 4 September to 2 October 2025. The Australian Taxation Office (ATO) has initiated a public consultation on certain taxpayer relief measures, such as its approach to remission of interest and failure to lodge
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Australia: ATO issues updated monthly foreign exchange rates for the 2025–26 income year, covering August 2025
The ATO has updated its foreign exchange rate guidance, including monthly exchange rates for 1 July 2025 to 30 June 2026, which covers the rates for August 2025. The ATO has updated its foreign exchange rate guidance, which includes monthly
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Australia: ATO finalises circumstances under which certain Division 7A notional loan repayments are disregarded
The guidance clarifies when certain Division 7A loan repayments for notional loans are disregarded for private companies. The Australian Taxation Office (ATO) has finalised its position on the circumstances under which certain Division 7A
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Australia consults removal of ‘nuisance tariffs’
Treasury has launched a consultation from 28 August-10 December, 2025, to abolish 500 “nuisance tariffs”, with the intention of reducing costs for businesses. The Australian Treasury has initiated a public consultation on proposals to abolish
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Australia: ATO consults Pillar Two filing exemptions for nil top-up tax cases
The deadline for submitting feedback is 24 September 2025. The Australian Taxation Office (ATO) has initiated a public consultation on a draft legislative instrument on 28 August 2025, aimed at easing compliance for multinational enterprise
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Australia gazettes Taxation (Multinational-Global, Domestic Minimum Tax, Qualified Globe Taxes) Determination 2025 legislative instrument
The legislative instrument takes effect on 27 August 2025 and remains applicable until 1 April 2035. The Australian Official Gazette has published a legislative instrument “Taxation (Multinational-Global and Domestic Minimum Tax) (Qualified
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Australia: Treasurer outlines tax reforms centred on equity, growth, and sustainability
The tax reforms prioritised ensuring fairness and intergenerational equity for workers, incentivising business investment to address economic productivity challenges, and simplifying the system to fund essential services amid societal shifts like
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Australia: ATO notifies large corporate taxpayers to review tax transparency data before October 2025 report
This month, companies will receive a notification with the tax information proposed for publication. The communication will also outline steps for correcting any errors prior to publication, including the deadline for responses. The Australian
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Australia: ATO issues final compliance guideline on restructures and updated thin capitalisation rules
This guideline outlines ATO’s practical compliance approach for restructures undertaken in response to the new thin capitalisation and debt deduction creation rules (DDCR). The Australian Taxation Office (ATO) has published the final
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Australia: ATO clarifies what private rulings can cover
A private ruling is binding advice explaining how a tax law applies to a specific situation or scheme. The Australian Taxation Office (ATO) has released updated guidance on 17 August 2025, regarding the scope of private rulings. A private
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Australia: Central Bank cuts interest rates for third time in 2025 as inflation eases
Following a two-day policy meeting, the Reserve Bank of Australia board announced that it had reduced the cash rate by 25 basis points. Australia’s central bank has lowered its benchmark interest rate for the third time this year, citing
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Australia: Treasury releases issues paper on budget sustainability, tax reform before economic reform roundtable
The issues paper outlines tax reforms to ensure fair resource returns, extend small business asset write-offs, support affordable housing, incentivise renewable energy investments, make superannuation concessions equitable, and enhance tax
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Australia: ATO consults on guidance for auditing low-risk software payments
The deadline to submit comments is 17 September 2025. The Australian Tax Office (ATO) has initiated a public consultation on draft guidance, Practical Compliance Guideline (PCG) 2025/D4, on 6 August 2025, about cross-border software
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Australia: ATO announces foreign exchange rates for 2025–26 income year
The ATO has updated its foreign exchange rate guidance, including monthly exchange rates for 1 July 2025 to 30 June 2026. The Australian Taxation Office (ATO) has released guidance on monthly exchange rates for the period from 1 July 2025 to 30
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Australia: ATO issues guidance on fraudulent GST refund schemes
The alert warns businesses against colluding with related entities to create fake invoices for fraudulent GST refund claims. The Australian Taxation Office (ATO) has issued a new taxpayer alert - TA 2025/2: Arrangements designed to improperly
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Australia: Productivity Commission proposes corporate tax cuts amongst other tax reforms
The proposal is open for consultation and is set to conclude on 15 September 2025. Australia’s Productivity Commission has published an interim report on 31 July 2025, proposing major changes to the country’s corporate tax framework. The
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