real estate and related assets. The differing withholding tax rates applicable (i.e. 15% or 30%) have and continue to be of great interest to foreign investors.
But Mr Jordan noted that “Australians love their work-related expense deductions” and that abolishing them in favour of lower personal income tax rates “would be a big step”. He was speaking on Wednesday at the National Press Club in his last public outing as tax commissioner before he o...
The Australian Taxation Office (ATO) has published new Common Reporting Standard (CRS) guidance which requires Australian reporting financial institutions (RFIs) to implement "strong measures" to obtain self-certifications from account holders. RFIs will be required to: apply a block on...
On December 17, the Federal Court of Appeals ruled in favor of the Australian Tax Office (ATO) inSingapore Telecom Australia Investments Pty Ltd v. Commissioner of Taxation. The issue involved what the ATO suggested was intercompany interest payments in excess of the arm’s length standard. Back...
“on hold” tax debts – ranging from a few cents to thousands of dollars – that may be decades old and will be taken from future refunds.The Australian Taxation Office letters are causing distress to recipients, who have told Guardian Australia that they are near impossible to contest given...