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Recent Developments

11 May 2012
A summary of selected tax developments for the week ending 11 May 2012
8 May 2012
The central theme of the 2012-13 Budget is the cancellation, limitation or deferral of a range of measures that were beneficial to taxpayers, as part of the political strategy of returning the Budget to surplus.
4 May 2012
A summary of selected tax developments for the week ending 4 May 2012
4 May 2012
On 18 April 2012 the new Assistant Treasurer took his first foray into the world of tax consolidations by releasing Exposure Draft (ED) provisions dealing with the residual cost setting and right to future income rules and TOFA interaction rules.
27 April 2012
A summary of selected tax developments for the week ending 27 April 2011
20 April 2012
On 28 March, the ATO issued a draft Ruling, TR 2012/D1 (‘the Ruling’) dealing with the meaning of the word ‘income’ in connection with trusts.  There is much in the Ruling which is controversial and not supported by legislative or judicial authority.  It is likely, therefore, that it will elicit submissions ranging from calls for outright rejection to less ambitious calls to qualify just its more contentious implications.
17 April 2012
This Tax Brief examines two significant developments in international tax.  The first is the long-running, rather leisurely project to create an ‘investment manager regime’ to address more comprehensively the Australian tax consequences for non-residents investing in, and through, Australia.  The second is the recent, high-priority and definitely un-leisurely amendments to Australia’s transfer pricing law.
13 April 2012
A summary of selected tax developments for the week ending 13 April 2011
10 April 2012
The Australian Government is proposing a revision of Australia’s transfer pricing rules. This will primarily impact intra-group transactions between Australian subsidiaries and their foreign parent companies.  
10 April 2012
The Australian Government has announced its intention to revise the Australia’s general anti-avoidance rules. This will give the ATO greater power to cancel tax benefits arising from arrangements entered into for the dominant purpose of avoiding tax.