Published on 01 Oct 07
by "AUSTRALIAN TAX FORUM" JOURNAL ARTICLE
Taxing Offshore Investment Income is a valuable contribution to the growing issue of taxation of foreign portfolio investment income. The amount of international portfolio investment and its role in the world economy has grown exponentially in recent years. Researches show that cross-border portfolio investments are now at least as substantial as international direct investments. The book is particularly timely in Australia. The Treasurer of Australia announced in October 2006 a review into the anti-deferral rules (including the foreign investment fund regime) to be conducted by the Board of Taxation. The Board was asked to identify ways to reduce the complexity and compliance costs associated with these rules, and to examine whether the regimes strike an appropriate balance between effectively countering tax deferral and unnecessarily inhibiting Australians from competing in the global economy. The Board has just released its discussion paper on the review in May 2007. The book would be a handy read alongside the discussion paper.
Antony is a senior lecturer, discipline of business law, University of Sydney. Current at 01 January 2014
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