Australia: Corporate Tax

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Article
Federal Court Clarifies Loss Transfer Cancellations: A Win By Retaining Losses
The Federal Court of Australia has clarified the operation of section 707-145 of the Income Tax Assessment Act 1997, determining that a head company's choice to cancel the transfer of tax losses must be made in relation to the joining year. The judgment in Evolution Mining Limited v Commissioner of Taxation provides critical guidance on the timing requirements for cancelling automatic loss transfers in consolidated groups, confirming that choices made in later income years are ineffective.
Australia Tax
CC
Corrs Chambers Westgarth
Video
It Depends – What Are The Proposed Changes To The Taxation Of Discretionary Trusts In The 2026 Federal Budget? (Video)
The Australian federal government's 2026 Budget introduces significant changes to discretionary trust taxation, implementing a minimum 30% tax rate at the trust level from July 2028. While certain trusts including fixed trusts, charities, and existing testamentary trusts receive exemptions, new discretionary testamentary trusts face strict requirements limiting beneficiaries to individuals only. Understanding these proposed reforms and their implications for asset protection, estate planning, and business s
Australia Tax
CG
Cooper Grace Ward
Article
Treasury Releases Consultation Paper On 30% Minimum Tax For Discretionary Trusts, With Major Questions Still To Answer
The Australian Treasury has released a consultation paper on implementing a 30% minimum tax on discretionary trusts, announced in the 2026-27 Budget. This comprehensive analysis examines the proposed framework's implications, including CGT rollover relief for restructuring, treatment of corporate beneficiaries facing effective double taxation, and the complex interplay between federal tax law, trust law, and state transfer duty obligations.
Australia Tax
PA
Piper Alderman
Article
Federal Budget 2026-27: A Preview
The 2026-27 Federal Budget faces the challenge of balancing ambition with caution amid geopolitical and economic uncertainty. With rumoured reforms to capital gains tax discounts, trust taxation, and negative gearing on the table, businesses are seeking clarity on policy settings that could fundamentally reshape investment structures and tax planning strategies. Will the government pursue transformative reform or opt for measured adjustments to strengthen national resilience?
Australia Tax
CC
Corrs Chambers Westgarth
Article
Proposed Changes To CGT Non-resident Withholding To Impact M&A Timetables
The Australian Treasury has released exposure draft legislation that significantly expands capital gains tax obligations for non-residents, introducing new ATO notification requirements for transactions valued at $50M or more and fundamentally shifting due diligence responsibilities from vendors to purchasers. These changes will impact M&A deal processes, compliance timelines, and risk allocation between parties in cross-border transactions involving Australian assets.
Australia Commercial
KL
Herbert Smith Freehills Kramer LLP
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