Australia: Corporate Tax

The Australian Government has released draft legislation proposing significant and retrospective changes to foreign resident capital gains tax rules, dramatically expanding what constitutes taxable Australian real property. These changes will apply to past transactions dating back to 2006, existing investments, and future deals, with only limited transitional relief for renewable energy assets until 2030.

It is a common misconception that only related entities may be grouped under the Payroll Tax Provisions.

Significant changes to Australia's corporate reporting rules aimed at increasing transparency of the tax practices of multinational companies are about to take effect.