• Service: Tax, International Tax
  • Type: Regulatory update
  • Date: 4/29/2014

Australia - 2014 budget scheduled for 13 May 

April 29:  The KPMG member firm in Australia prepared reports on the following developments (read the April 2014 reports by clicking on the hyperlinks provided below):
  • Federal budget 2014 - The forthcoming budget is expected to be announced on Tuesday, 13 May 2014, and will be important for businesses that will need to understand how they will be affected at every level. KPMG's pre-Federal Budget brief sets the scene for what may feature in the budget to be announced in May.

    Read an April 2014 report.

  • U-turns on “infrequent occasions” only - In two recent addresses before organizations, the Commissioner has sought to allay concerns that a recent decision of the court in relation to “U-turns” (i.e., whether the tax administration’s view of law is applied prospectively only) may result in an increase in the number of “U-turns” that the Australian Taxation Office (ATO) seeks to perform.

    Read an April 2014 report.

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