Published on 01 Apr 19
by "AUSTRALIAN TAX FORUM" JOURNAL ARTICLE
Despite Div 855’s clear policy objectives, its practical operation has experienced challenges that must be addressed so as to ensure Australia’s taxation arrangements continue to be seen as attractive for future foreign investment. Changes will be proposed to the “all or nothing” rule, the non-portfolio interests test and the author will propose the introduction of a new provision that would require specific adjustments to the taxable treatment of a transaction that satisfied the indirect Australian real property interest test. Proposals relating to the timing of the planned introduction to the changes to the principal asset test announced in the 2017 federal Budget will also be made.