Australia :-Taxpayer can get exemptions on dividends from Foreign Company

ATO draft ruling regarding eligibility for exemptions on foreign dividends. The Australian Taxation Office (ATO) recently issued draft ruling TR 2016/D2 addressing an interpretive issue that goes to the heart of whether a taxpayer can get an exemption for a dividend it receives from a foreign company. This issue originally arose from a question raised by a taxpayer of whether the dividend was nonRead More…

Payment for broadcasting rights of Olympic games isn’t royalty :Federal Court of Australia

Issue is whether s 128B of the Income Tax Assessment Act 1936 (ITAA 1936) applied to payments that Seven Network Limited (Seven), a resident of Australia, paid to the International Olympic Committee (IOC), a resident of Switzerland, between March 2006 and August 2008 for the broadcasting rights to the Olympic Games. Whether s 128B of the ITAA 1936 applied to the payments turns on whether the paymeRead More…

Royalty or Business Profits? Closer look at Australia/India Treaty

11 October 2016 Jenny Wong analyses a recent Federal Court decision regarding Australia’s rights to tax payments to an Indian company in Australia. The Full Court handed down its decision for Tech Mahindra Limited v Commissioner of Taxation [2016] FCAFC 130 (22 September 2016). The case concerns the Australia and India Treaty and whether Australia had the right to tax payments for servicRead More…

Australia: Guidelines on foreign stamp duty surcharge in Queensland

Foreign stamp duty surcharge The Queensland Commissioner of State Revenue (the Commissioner) has recently released three Guidelines to assist taxpayers in determining when the new Additional Foreign Acquirer Duty (AFAD) rules under the Queensland Duties Act will apply. Under the rules, from 1 October 2016, an additional 3 percent stamp duty surcharge will apply to certain dutiable transactions tRead More…

Australian Taxation Office updated guidance on general anti-avoidance rules

Australian Taxation Office updated guidance on the application of the general anti-avoidance rules. After much anticipation, the Australian Taxation Office (ATO) has released a revised practice statement on the application of the general anti-avoidance rules (Law Administration Practice Statement (PSLA) 2005/24). Click to View :   (PSLA) 2005/24).   application of the general anti-avoidanceRead More…