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Australia's 2013 Budget Includes Corporate Tax Changes 

Global Tax Adviser

 

June 04, 2013

 

Pauline Motard
Montreal, International Corporate Tax

 

Australia's 2013 budget, which was delivered on May 14, 2013, proposes to introduce business taxation changes including amendments to the thin capitalization regime, interest deductibility rules, a mining exploration expenditure measure, and tax consolidation rules. While the government's specific announcements are significant, Australia is in an election year and it is unclear whether these provisions will be enacted before Parliament is dissolved.

The budget also proposes to limit the capital gains tax exemption for non-residents, and to impose a withholding tax on certain proceeds of disposition.

 

For more information, contact your KPMG adviser.

 

 

 

Information is current to June 04, 2013. The information contained in this publication is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's National Tax Centre at 416.777.8500

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