• Service: Tax, Global Compliance Management Services, International Tax
  • Type: Regulatory update
  • Date: 2/17/2014

Australia - R&D claims for intellectual property assets created offshore 

February 17:  The KPMG member firm in Australia prepared reports on the following developments (read the February 2014 reports by clicking on the hyperlinks provided below):
  • Australian R&D for foreign companies - The research and development (R&D) rules for claiming R&D activities for intellectual property generated offshore have been changed and now allow Australian R&D activities to be claimed when undertaken: (1) by an Australian permanent establishment (PE) on behalf of a foreign resident; or (2) by an Australian subsidiary on behalf of a foreign resident.

    Read a February 2014 report.

  • BEPS: Dutch Supreme Court draws line on RPS issued by Australian company - The Dutch Supreme Court in early February 2014 issued a decision concerning the equity status of redeemable preference shares (RPS) issued by an Australian company.

    Read a February 2014 report.

  • To block or not to block – super investor's dilemma - A proposed amendment would revise the definition of an “exempt entity” to exclude superannuation funds, so that a trust would not be regarded as a “public” trust merely because one of its investors is a superannuation fund with a 20% interest. With the proposed change, a superannuation fund would be free to invest into a trading trust through an entity of its choosing—most typically a trust.

    Read a February 2014 report.

  • Is everyone singing the same tax power ballad? Head of corporate tax departments tax need to make certain all key players coordinate their efforts because an error in an FBT return, for example, could have a domino effect, flowing through to income tax returns, GST returns, and payroll tax and PAYG statements.

    Read a February 2014 report.

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