• Service: Tax, International Tax
  • Type: Regulatory update
  • Date: 5/9/2014

Australia - R&D tax offsets, Asia funds regime 

May 9:  The KPMG member firm in Australia prepared reports on the following developments (read the May 2014 reports by clicking on the hyperlinks provided below):
  • R&D tax offset and NTER entities - Under the National Tax Equivalent Regime (NTER)—an administrative arrangement under which tax laws are applied notionally to “NTER entities” (designated as state and territory government-owned entities and as if they were subject to the tax laws)—the research and development (R&D) tax offset provisions will be applied with certain modifications.

    Read a May 2014 report.

  • Asia funds - The Asia Funds Passport initiative aims to create a regulatory arrangement that will streamline the offer of collective investment schemes (CIS) in participating economies. A consultation paper outlining the passport and how it will be implemented was released 16 April 2014.

    Read a May 2014 report.

  • “Absolute entitlement” and trustee’s power of disposal - Many provisions in the tax law rely on the concept of “absolute entitlement”—including the flow-through treatment of franking credits and numerous capital gains tax (CGT) events. The term “absolute entitlement” is not defined by statute, but draws its meaning from case law.

    Read a May 2014 report.

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