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09 Dec 099 Australia and Canada begin work to update tax treaty

In a media release issued on 8 November 2009, the Assistant Treasurer, Senator Nick Sherry, announced that Australia and Canada have begun negotiations to update their existing tax treaty.

"The existing tax treaty was last updated in 2002 and in a rapidly changing world, it's crucial it's modernised. I am also today asking interested parties to come forward with their views on how the 2002 treaty might be enhanced in this current negotiation, as a modern taxation agreement will ensure the best possible conditions for businesses and individuals in both countries," the Assistant Treasurer said.

Submissions relating to a new agreement are required by 15 January 2010.

For a copy of the Assistant Treasurer's media release, No 2009/104, 8 December 2009, go here

For details about making a submission, go here


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