Corporate Tax Cuts: What Do They Mean For You?

Just over two months have passed since the Federal Government enacted the Treasury Laws Amendment (Enterprise Tax Plan) Act 2017 to reduce the corporate tax rate in Australia. The new company tax rate is 27.5% for the 2016-17 tax year for companies with aggregated annual [...]

August 2nd, 2017|Taxation|

Sham Loans

Sham Loans The Commissioner of Taxation in two recent tax cases (Millar[1] and Normandy Finance[2]) and Liquidators in BCI Finances[3] (supported by the Commissioner of Taxation), have had success in alleging certain loans were shams. This had the effect that in the tax cases, that [...]

June 1st, 2017|Taxation|

Australian Diverted Profits Tax (“DPT”)

Australia has followed the UK path of pre-empting the implementation of the OECD’s Base Erosion and Profit Shifting (BEPS) final reports dated 5 October 2015 which deals with international tax avoidance alleged against by the likes of Google and Amazon. The UK introduced its Diverted Profits Tax with effect from [...]

September 6th, 2016|Taxation|