Skip to main content
shopping_cart

Your shopping cart is empty

Search Journal Articles

27 May 14 Technical corrections to Australia’s foreign resident CGT regime

On 26 May 2014 the Commonwealth Treasury released an exposure draft amending Bill entitled the Tax and Superannuation Laws Amendment (2014 Measures No 3) Bill 2014: Foreign resident CGT assets used by permanent establishments, and a draft Explanatory Memorandum. Submissions are sought on the proposed amendments. The closing date for submissions is Monday, 9 June 2014.

The exposure drafts address a technical issue identified in Australia’s foreign resident CGT regime. Specifically, a correction is made to the definition of “permanent establishment” in s 855-15 of the Income Tax Assessment Act 1997 (Cth).

The correction will ensure that foreign residents are subject to CGT in relation to CGT assets that they have used in carrying on a business through a permanent establishment located in Australia.

Search All Articles
Keywords
Eg. TD 2005/D52 ALL words EXACT phrase WITHOUT words Journals Date range
From
To