• Service: Tax, Global Indirect Tax, Global Compliance Management Services, International Tax
  • Type: Regulatory update
  • Date: 9/4/2013

Australia - Cross-border deemed dividend rules; taxing collective investment vehicles 

September 4: The KPMG member firm in Australia prepared reports on the following developments.  Read the September / August 2013 reports by clicking on the hyperlinks provided below:
  • Cross-border deemed dividend rules - While the deemed dividend rules in Division 7A are most common among domestic private groups, there is also the risk of its application to larger corporate groups, including those with an international focus.

    Read a September 2013 report

  • Attracting foreign capital - Australia's Board of Taxation completed its review and issued a report to the Assistant Treasurer on the tax treatment of collective investment vehicles, including whether a broader range of tax flow-through collective investment vehicles (i.e., options other than adopting a trust) ought to be permitted.

    Read a September 2013 report

  • Tax cost-setting rules – Taxpayers evaluating whether to undertake an asset purchase or a share purchase need to be aware of the recent amendments to the treatment of rights to future income (RTFI) and other intangible assets.

    Read an August 2013 report

  • Using indirect tax sharing agreements to manage GST risk - Many corporate groups are now using indirect tax sharing agreements to manage their risk with respect to goods and services tax (GST) grouping (i.e., members are jointly and severally liable for the indirect tax liabilities of the GST group).

    Read an August 2013 report

  • MIT withholding rate - Taxpayers need to take care to apply the correct rate of managed investment trust (MIT) withholding on "fund payments" made to a non-Australian investor.

    Read an August 2013 report

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