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Greenwoods & Freehills Pty Limited (G&F) is a specialist tax practice, Australia's biggest advisory firm practising exclusively in revenue laws and is International Tax Review's Australian Tax Firm of the Year, 2007. Now incorporating Shaddick & Spence. Recent Developments5 February 2010
A summary of selected tax developments for the week ending 5 February 2010.
29 January 2010
A summary of selected tax developments for the week ending 29 January 2010.
22 January 2010
A summary of selected tax developments for the week ending 22 January 2010.
15 January 2010
A summary of selected tax developments for the week ending 15 January 2010.
15 January 2010
On 5 January 2010 Treasury took a further step in the long-running process to reform the anti-tax-deferral regimes that relate to foreign source income by issuing a consultation paper directed at the high-level design of the new controlled foreign company (CFC) rules. The proposals in the consultation paper are further developed than in the past and so provide further insight into the likely shape of important aspects of the new rules.
23 December 2009
Amid the flurry of pre-Christmas desk clearing in the ATO was one long running and important matter of great concern to corporate Australia. The ATO has replaced its 2007 draft determination on the relationship of the thin capitalisation and transfer pricing rules with a draft ruling, as well as releasing a draft practice statement and two opinions it has obtained from counsel on the technical issues. Though the matter is not yet settled, the ATO position has firmed up on the middle ground in terms of its previous consideration of the issue.
23 December 2009
On 16 December 2009 the ATO released two draft tax rulings on the main issues arising in its notorious recent court action involving the private equity group, TPG (though that case is not mentioned by name of course). The rulings effectively leave the revenue capital treatment and treaty shopping issues to case by case treatment, though making clear the ATO view of the TPG situation. 18 December 2009
A summary of selected tax developments for the week ending 18 December 2009.
17 December 2009
The Government has taken another step on the long road to reform of the tax rules for managed investment trusts (‘MITs’). On 10 December, Exposure Draft legislation was released giving a first glimpse of the rules that are intended to make the capital gains tax regime (‘CGT’) the principal provisions for taxing gains and losses made by MITs. The text contains a few surprises that were not previously foreshadowed either in the recommendations or consultations so far. Moreover, the new measures add some confusion about the range of entities that will qualify for CGT treatment, which may render the entire project rather less useful than originally promised. This Tax Brief examines the Exposure Draft.
11 December 2009
A summary of selected tax developments for the week ending 11 December 2009.
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