Stories that are tagged 'Australia'

	Australia To Clarify GAAR 5/16/2012 Australian Assistant Treasurer David Bradbury has announced the formation of an expert roundtable to assist with the implementation of the government's clarifications of the definition of 'tax benefit' under Australia's general anti-avoidance rule.
	Australian Budget Scraps Planned Business Tax Cuts 5/10/2012 A planned cut to business tax rates will not go ahead in Australia, as the government seeks to redirect projected mining tax revenue to help families and small businesses in the face of ongoing disputes with opposition parties.
	Australia To Exempt Latest Flood Victims From Levy 5/8/2012 Australian Treasurer Wayne Swan has said that those affected by flooding earlier in the year will be exempt from the flood levy.
	Australian Businesses To Benefit From Loss Carry Back Scheme 5/7/2012 Australia’s government is to introduce a new business tax relief with a ‘loss carry-back' initiative, designed to give businesses greater access to their legitimate tax deductions when making losses.
	Tax Guidance Issued For Foreign Ships Visiting Australia 5/4/2012 The Australian Taxation Office has recently issued guidance on the tax requirements that must be met by foreign-based ship owners and charterers carrying passengers, livestock, mail or goods shipped in Australia.
	Nations Air Grievances At WTO Anti-Dumping Body 5/1/2012 The World Trade Organization's Committee on Anti-Dumping Practices held a meeting with WTO members recently to present feedback on 30 anti-dumping actions taken during 2011, and to hear nations' current trade policy concerns.
	Kirk Explains US Asia-Pacific Trade Policy 5/1/2012 In remarks at Singapore Management University, the United States Trade Representative Ron Kirk described the Administration’s broad trade policy in the Asia-Pacific region as using the Trans-Pacific Partnership to make further progress with its trading partners around the Pacific Rim.
	Australian Inspector-General Reviews SME Compliance 4/26/2012 The Australian Taxation Office could improve its compliance approaches to small- and medium-sized enterprises and high wealth individuals in a number of areas, according to a new report.
	Australia To Grant Tax Relief To Superfund Managers 4/26/2012 A new temporary relief will enable Australian superfunds to merge without facing a tax hit, thanks to new legislation intended to support superannuation reforms.
	Australia To Enforce Companies' Workforce Obligations 4/20/2012 Draft legislation has been released by the Australian government which will enforce companies' compliance with tax and superannuation guarantee obligations.
	Australia Examines Tax Treatment Of Losses 4/17/2012 Australian Treasurer and Deputy Prime Minister Wayne Swan has released the final report of the independent Business Tax Working Group on the tax treatment of corporate losses, which recommends further examination of proposals to introduce loss carrybacks in Australia.
	Results Of Annual US Review Of Telecommunications Trade Agreements 4/10/2012 United States Trade Representative Ron Kirk has announced the results of the 2012 annual review of the operation and effectiveness of telecommunications trade agreements under Section 1377 of the Omnibus Trade and Competitiveness Act of 1988.
	World Economic Forum Issues Global ICT Report 4/6/2012 The World Economic Forum, in collaboration with INSEAD, has issued the Global Information Technology Report for 2012, which is said to be the most comprehensive assessment of the preparedness of global economies to leverage the networked economy.
	WTO Members Pressure Argentina On Trade Policy 4/9/2012 At the Council for Trade in Goods meeting on March 30, 2012, fourteen World Trade Organisation members jointly expressed their deepening concern about Argentina’s import-licensing measures, which were said to have significantly restricted trade flows.
	APEC Focuses On Trade And Investment 4/6/2012 The Asia-Pacific Economic Cooperation is moving ahead with cooperative efforts to evaluate and identify initiatives to support freer, faster and more beneficial trade in the region that will lead ultimately, it is hoped, to a Free Trade Area of the Asia Pacific.
	ATO Reviews Effective Life Determination Process 4/4/2012 The Australian Taxation Office has launched a review of assets used in the flour and starch manufacturing industry, with a view to making new 'effective life' determinations.
	Australia To Clarify Shareholder Voting Rights 4/5/2012 The Australian government is working to clarify the extent of shareholder voting rights on executive remuneration, amending legislation to this effect.
	Australian Financial Advice Bill Passed 3/29/2012 Australia’s House of Representatives has passed the government’s Future of Financial Advice reforms, designed to deliver a growth strategy for the industry.
	Australia-India Treaty Protocol Released 3/26/2012 The Australian government has released details of a new protocol to its tax treaty with India, signed in December.
	Australia Launches New Superannuation Advice Website 3/23/2012 The Australian government has launched a new website designed to offer advice on and help with access to improvements in the superannuation system.
	Australia Delays Financial Advice Reforms 3/26/2012 The Australian government has announced that its Future of Financial Advice reforms will not become mandatory until July, 2013, stressing that this will benefit the wealth management industry.
	Australia's Class Rulings Regime Reviewed 3/22/2012 The Inspector-General of Taxation has published its review into the Australian Taxation Office's administration of class rulings, recognizing the benefits of the system but acknowledging areas for improvement.
	Australian Parliament Passes Mining Tax 3/23/2012 Australia’s controversial Minerals Resource Rent Tax has made it through parliament after a long battle with the opposition.
	Australia To Amend Transfer Pricing Regime 3/21/2012 The Australian government has released draft proposals that will launch the first stage of its reform of the transfer pricing system.
	Australia Releases Tax Prosecution Figures 3/20/2012 Almost 1,200 people were prosecuted and convicted for tax and superannuation offences in Australia last year, new figures show.
	Australia Consults On Tax Hedging Rules 3/16/2012 Australia is to amend its tax hedging rules in an effort to provide further certainty and reduce compliance costs for affected taxpayers.
	ASIC Reviews Regulatory Approach 3/16/2012 The Australian Securities and Investments Commission has announced that it is reviewing its regulatory approach to the platforms sector, as it seeks to boost investor confidence.
	Australian Floods Declared Disasters For Tax Purposes 3/13/2012 The Australian government has declared the recent floods a disaster for tax purposes, thus making donations to relief funds tax deductible.
	TPP Talks Make Further Headway 3/14/2012 The Office of the United States Trade Representative has stated that the prospective Trans-Pacific Partnership free trade partners – Australia, Brunei Darussalam, Chile, Malaysia, New Zealand, Peru, Singapore, the US, and Vietnam – made further strong headway during the recent eleventh round of negotiations in Melbourne.
	Australia Consults On Investment Manager Reform 3/13/2012 The Australian government has released draft legislation implementing the first stage of its new Investment Manager Regime.
	Australian Govt Introduces New Superannuation Reforms 3/8/2012 New legislation amending Australia's superannuation tax rules will make the system simpler and fairer, the minister in charge has said.
	Australia To Strengthen GAAR Legislation 3/6/2012 The Australian government is to introduce legislation intended to ensure the continued effectiveness of the country's general anti-avoidance rule.
	Australia Announces Overhaul Of Audit System 3/1/2012 The Australian government has introduced legislation designed to enhance audit quality and strengthen regulatory oversight.
	APEC Business Leaders Push Asia-Pac FTA 2/29/2012 The Business Advisory Council of the Asia-Pacific Economic Cooperation is focused on taking further steps towards realizing the goal of an integrated Asia Pacific economy, and on liberalizing and facilitating trade and investment, leading ultimately to a Free Trade Area of the Asia Pacific.
	Virgin Australia Announces Carbon Tax Surcharges 2/28/2012 Virgin Australia has outlined the surcharges it will add to flight prices in response to new Australian and European Union carbon pricing schemes.
	Japanese TPP Negotiations Depends On US Go-Ahead 2/28/2012 While the Japanese government has now concluded a first round of talks with each of the nine countries that are presently in negotiations for an extension to the Trans-Pacific Partnership, it is becoming apparent that it will be up to the United States to make the final decision whether to allow Japan to join those negotiations.
	Australian Pension Tax Concessions Examined 2/24/2012 The Australian government has held the inaugural meeting of the Superannuation Roundtable, which has agreed that a priority going forward is to get better information around the current distribution of tax concessions.
	Australia Consults On Maritime Tax Overhaul 2/22/2012 The Australian government has released for consultation an exposure draft on proposed legislation that would revamp the nation's maritime tax policy to strengthen the industry's international competitiveness.
	The Netherlands Ups Tax Treaty Negotiations In 2012 2/21/2012 Underlining the government’s commitment to negotiating new tax treaties with other countries, the Dutch finance ministry has recently outlined details of its specific plans for 2012.
	Australia Discusses Not-For-Profit Tax Reforms 2/14/2012 The Australian government has announced the membership and terms of reference of a new working group that will consider ideas for improving tax concessions for the not-for-profit sector.
	Australia Announce New Superannuation Roundtable 2/7/2012 Australia’s government has announced a new Superannuation Roundtable to consider ideas raised at the recent Tax Forum to provide Australians with more options in retirement and to improve certain superannuation concessions.
	Australia Threatens Legal Action On Mining Contracts 2/2/2012 Australian Prime Minister Julia Gillard has warned that Australia will bring proceedings at World Trade Organisation level if it is confirmed by industry that Australian suppliers are unfairly being shut out of lucrative supply deals as has been alleged.
	Australia Urged To Scrap 'Wasteful' Oil Tax Breaks 1/30/2012 The Australian Conservation Foundation has argued that the Federal Government could save up AUD2.3bn (USD2.4bn) in the 2012-13 Budget by scrapping wasteful and inefficient tax breaks to the oil and gas sector as well as other subsidies that promote the use of fossil fuels.
	WTO To Ease LDC Accession Requirements 1/27/2012 The Sub-Committee on Least Developed Countries, on January 20, agreed to start work on developing recommendations to “further strengthen, streamline and operationalize” current guidelines on the accession process of LDCs, as called for in a decision by the Eighth WTO Ministerial Conference last month.
	Australia Welcomes Indonesia Into Regional FTA 1/13/2012 Australia's Trade Minister Craig Emerson has welcomed the entry into force in Indonesia of the ASEAN-Australia-New Zealand Free Trade Agreement, hailing it a milestone in the relationship between the two countries.
	Hong Kong Remains World's Freest Economy 1/13/2012 For the 18th consecutive year, Hong Kong maintained its position as the world’s freest economy, according to the 2012 Index of Economic Freedom, published annually by The Heritage Foundation.
	Indonesia Ratifies ASEAN's FTA With Australia-NZ 1/11/2012 The ASEAN group's Free Trade Agreement with Australia and New Zealand fully came into force for all nations on January 10, 2012, with Indonesia the last party to ratify the agreement.
	US Confirms TPP Not Aimed Against China 1/9/2012 At the Center for Strategic and International Studies in Washington to launch a speaker series entitled the "Trans-Pacific Partnership: Recovery through Growth in Asia and the Next Generation of Regional Trade Agreements", the Deputy National Security Adviser Michael Froman said that the proposed extension to the TPP is not directly aimed against the interests of China.
	Centamin Shifts Tax Residency To Jersey 1/4/2012 On December 30, 2011, Centamin Egypt Limited successfully migrated its corporate headquarters to Jersey from Australia, through the establishment of a Jersey holding company with advice from Channel Islands law firm Ogier.
	Ogier Cayman Advises On Mining Company Merger 12/28/2011 Ogier's Cayman Islands office was selected to advise as part of an international legal team on the merger of Australian resource company Adamus Resources Limited with Cayman-domiciled Endeavour Mining Corporation.
	Japan, Australia Restart FTA Talks 12/26/2011 The 13th round of negotiations on the long-discussed Japan-Australia Economic Partnership Agreement has been held in Canberra, amidst encouraging signs concerning its possible completion.
	Carbon Tax To Hit Australian Farmers 12/26/2011 Australia’s National Farmers Federation has expressed concern over the impact of the carbon tax.
	Australian Treasurer Calls For Budget Submissions 12/21/2011 Australian Deputy Prime Minister and Treasurer Wayne Swan has invited individuals, businesses and community groups to submit ideas for the upcoming 2012-13 Budget.
	Australia Proceeds With Fund Manager Tax Reforms 12/21/2011 The Australian government has announced plans to implement the third and final element of an investment management regime, which, according to Minister for Financial Services Bill Shorten, will provide certainty of tax treatment for the funds management sector.
	Singapore Tops Asia-Pac 'Good Governance' Index 12/14/2011 Vriens and Partners, an Asia-focused corporate advisory firm, has issued its 2011 ‘Good Governance for International Business’ index of 19 economies in the Asia-Pacific region, in which Singapore has edged out Hong Kong for the number one position.
	New Zealand Protests UK Aviation Tax Hike 12/14/2011 The UK's decision to increase Air Passenger Duty has sparked fierce criticism in New Zealand and Australia, with Prime Minister John Key fearing that the tax will put 'a significant burden on New Zealand businesses'.
	Australia Announces Enquiry Into AGMs 12/9/2011 The Australian government has announced that the future of the company annual general meeting is to be examined in the light of changes to the way in which information is distributed and how shareholders interact with their companies.
	US Puts Green Issues Within TPP Negotiations 12/8/2011 In a prepared statement, the Deputy United States Trade Representative, Demetrios Marantis, has introduced a ‘green paper’ on how environmental initiatives are being forwarded within the Trans-Pacific Partnership negotiations.
	Gillard Uses Political Conference To Lay Out Future Plans 12/6/2011 Australia’s Prime Minister Julia Gillard has outlined a plan to cuts taxes as part of efforts to boost economic growth and employment, at the embattled Labor Party's recent national conference.
	Jersey Litigation Fund Breaks New Ground 12/5/2011 Offshore law firm Carey Olsen has broken new ground with the first ever listing of a litigation fund on the Channel Islands Stock Exchange after it advised Argentum Capital Limited on the Jersey legal aspects of its multimillion-pound listing.
	Australian Tax Changes Target Consolidated Groups 11/30/2011 The Australian government has decided to introduce changes to income tax law affecting consolidated groups. The changes relate to the way a consolidated group can deduct the costs allocated to some assets following a corporate acquisition.
	Trusts To Benefit From Australian Tax Reforms 11/28/2011 Australia's Assistant Treasurer Bill Shorten has recently announced that a new consultation paper concerning the modernization of trust taxation will give trustees and beneficiaries of over 660,000 trusts the opportunity to have a better say in their own financial future.
	APEC Approves Cross-Border Privacy Rules 11/18/2011 The Asia-Pacific Economic Cooperation group has approved a new initiative to harmonize cross-border data privacy protection, which is designed to enhance the protection of consumer data that moves between its members, including the United States, at a time when more consumer information is moving across national borders.
	Canada Seeks Asia-Pac Trade Linkages 11/17/2011 Canada's Finance Minister Jim Flaherty has visited China in an effort to strengthen trading and economic ties, while his colleague the Minister of International Trade has wrapped up a productive trade ministerial meeting at the 2011 Asia-Pacific Economic Cooperation Forum.
	APEC Looks At Regional Economic Integration 11/17/2011 Under the chairmanship of US President Barack Obama, the leaders of the Asia-Pacific Economic Cooperation group, at their recent meeting in Hawaii, adopted the ‘Honolulu Declaration’, which looks towards a 'seamless regional economy', by strengthening regional economic integration and expanding trade, promoting green growth, and advancing regulatory convergence and cooperation.
	Australia Urges Global Rethink Of Doha Agenda 11/17/2011 After a decade of inconclusive talks, the Australian government has called for a rethink on the Doha Round negotiations led by the World Trade Organization that would join all WTO members in a binding commitment on further reductions of trade tariffs and prohibitive trade regulations.
	TPP Participants Reach Outline Agreement 11/16/2011 Following talks on the sidelines of the Asia-Pacific Economic Cooperation Leaders Meeting in Honolulu, the countries negotiating the proposed extension to the Trans-Pacific Partnership - Australia, Brunei Darussalam, Chile, Malaysia, New Zealand, Peru, Singapore, the United States and Vietnam – announced they had reached the broad outlines of an agreement.
	Australia Passes Clean Energy Legislation 11/14/2011 On November 8, the multiple Bills comprising the Clean Energy legislative package were passed into law by the Australian Senate, a package that will force about 500 of the country’s biggest polluters to pay a levy of AUD23 (USD23) for each tonne of carbon dioxide they emit.
	Australia To Redefine Charity In Law 11/2/2011 The Australian government has launched a consultation on a new statutory definition of charity for tax purposes, applicable across all Commonwealth laws from July 1, 2013.
	Strong Progress Made In TPP Talks 11/1/2011 On October 28, 2011, the United States and its Trans-Pacific Partnership partners - Australia, Brunei Darussalam, Chile, Malaysia, New Zealand, Peru, Singapore, and Vietnam - concluded a ninth round of negotiations in Lima, Peru.
	Study Points To Mutual Benefits For APEC And TPP 10/28/2011 Despite the different nature of their negotiations, a study prepared by the Policy Support Unit of the Asia-Pacific Economic Cooperation has explored how APEC and the Trans-Pacific Partnership can be mutually beneficial.
	G-20 Nations Failing To Honour Protectionism Pledges 10/27/2011 Disappointingly weak growth in some G-20 members is testing the political resolve of many governments to resist trade protectionism, says a new report from the World Trade Organization, the United Nations and the Organisation for Economic Cooperation and Development, which examines trade and investment measures implemented in the third quarter of 2011.
	Australia Details Tax Incentives For Infrastructure Projects 10/26/2011 In a bid to promote private investment, the government of Australia has announced the proposed introduction of tax loss incentives for qualifying infrastructure projects.
	Australian Business Urges Carbon Bill Changes 10/20/2011 The Australian Industry Group and the Business Council of Australia have written to all members of the Australian Parliament urging them to act in Australia’s long-term economic interest and amend the Clean Energy Future legislation to include essential safeguards to protect Australia’s competitiveness.
	Australia Announces New Tax Working Group 10/17/2011 The Australian Treasurer Wayne Swan has announced the terms of reference and appointments to a new tax working group tasked with examining reforms that could increase productivity and deliver tax relief to struggling businesses.
	Australia Offers Flood Victims CGT Relief 10/11/2011 Owners of investment properties involved in the Australian Lockyer Valley Regional Council's land swap program will be eligible for capital gains tax relief as part of the federal government's ongoing work to assist people affected by the floods last summer.
	IMF Backs Australian Tax Policy 10/10/2011 The International Monetary Fund has endorsed the Australian government's tax policies in its latest review of the country's economy.
	'Fat Tax' Debate Lands In Australia 10/7/2011 In the week that Denmark imposed a ‘fat tax’ on food and it has been suggested that Britain and France could follow suit, a visiting American obesity expert has called on Australia to start taxing soft drinks.
	Businesses Sceptical After Australian Tax Forum 10/6/2011 The Australian two-day Tax Forum, organized by the government, has now ended, with the majority of delegates going home in agreement that the country’s tax system is unsatisfactory and needs a lot of changes to improve it.
	India Leads Protest Against EU Carbon Tax On Airlines 10/4/2011 Strong protests have been made by 26 countries, led by India, against European Union plans to tax airlines on carbon emissions in its airspace. These concerns about the Emissions Trading Scheme were expressed at a meeting held in Delhi within the last few days.
	Eight Countries Sign ACTA 10/4/2011 The United States Trade Representative has issued a statement on behalf of Australia, Canada, the European Union and its member states, Japan, South Korea, Mexico, Morocco, New Zealand, Singapore, Switzerland and the United States, who have reaffirmed their commitment to the Anti-Counterfeiting Trade Agreement at a signing ceremony in Tokyo.
	Australia Consults On Standard Deduction 9/30/2011 Exposure draft legislation has been released for public consultation by the Australian government on proposals to provide individual taxpayers with a standard deduction for work-related expenses and the cost of managing tax affairs.
	Australian Industry Group Calls For GST Increase 9/30/2011 It looks as if business organizations are going to ignore the rules set down by the Australian government for the upcoming Tax Forum to be held in Canberra on October 4 and 5 by calling for an increase in the goods and services tax rate to allow other more inefficient taxes to be removed.
	Australia's Big Wine Brands Call For Tax Changes 9/28/2011 Two of Australia’s largest wine companies, Treasury Wine Estates and Premium Wine Brands, have made submissions to the government’s October Tax Summit, calling for the end of Wine Equalization Tax, which they believe is causing damage to the industry.
	Australia To Change GST Treatment of New Homes 9/27/2011 Previously announced changes to the application of goods and services tax to newly constructed residential premises will not apply prior to January 27, 2011, Australian Assistant Treasurer Bill Shorten has clarified.
	Australia Consults On CGT Changes 9/27/2011 Following public consultation earlier this year on the exposure draft for a package of capital gains tax measures, the Australian government has developed a further draft of legislation to address issues raised in relation to the share and interest share facilities measure.
	Australia Releases New Carbon Price Modelling 9/26/2011 The Australian government has released updated modelling of the impact of a carbon price, which it says confirms Australia's economy will continue to grow strongly at the same time as pollution is cut, although the estimates were dismissed as 'worthless' by the opposition Liberal Party.
	Hong Kong Tops Economic Freedom Index 9/23/2011 Hong Kong has once again topped the Fraser Institute's Economic Freedom Index, which measures the degree to which the policies and institutions of countries are supportive of economic freedom.
	US Points To Progress In TPP Negotiations 9/22/2011 A statement from the Office of the United States Trade Representative has disclosed that the nine countries involved in negotiating the extended Trans-Pacific Partnership– the United States, Australia, Peru, Vietnam, Malaysia, New Zealand, Chile, Singapore and Brunei – have made progress in a further round of negotiations in Chicago.
	New Zealand Looks To Slow Down Its Emissions Trading Scheme 9/16/2011 The New Zealand Government has released the Emissions Trading Scheme Review Panel’s report, Doing New Zealand’s Fair Share, which recommends the implementation of the scheme be slowed down.
	Small Business In Australia To Benefit From Tax Law Amendments 9/19/2011 Australia's 2.7m small businesses should benefit from a package of tax law amendments that will improve cash flow and reduce compliance costs by simplifying the small business depreciation rules.
	Aviation Body Slams EU's 'Massive' Carbon Tax 9/16/2011 The International Air Cargo Association is urging the European Union to suspend implementation of its controversial Emissions Trading Scheme for aviation and to instead pursue a global agreement of aviation carbon emissions through the International Civil Aviation Organization.
	Australian Carbon Tax Bill Introduced 9/15/2011 After months of controversy, Julia Gillard, the Australian Prime Minister, has finally introduced the carbon tax bill into parliament, which is expected to pass with the help of minority parties, despite fierce criticism of the legislation from business and the main parliamentary opposition group.
	Tax Reforms To Revitalize Australian Shipping 9/13/2011 The Australian government is looking to boost the country’s struggling shipping industry by introducing major tax breaks and setting up an international shipping register.
	ATO Criticized In Large Business Risk Review 9/12/2011 Large Australian businesses will welcome increased certainty around the Australian Taxation Office's risk reviews and audits of their financial practices, following the release of the Inspector-General of Taxation's Report into the Australian Taxation Office's large business risk review and audit policies, procedures and practices.
	Debate Over Australian Mining Industry’s Tax Bill 9/9/2011 Public perceptions of the size and significance of the mining industry to the Australian economy are radically different to the facts, a new survey by the Australia Institute has revealed.
	Australian Retail Inquiry Focusses On GST 9/8/2011 The public hearings of the Australian Productivity Commission’s inquiry into the future of the Australian retail industry continued this week, with bricks and mortar retailers feeling strongly about internet retailers benefiting from the the low value threshold for goods and services tax purposes.
	Australian Government Slams Opposition Carbon Scheme 9/7/2011 In a critique of the opposition coalition's carbon reduction scheme, the Australian Treasury says that its proposed 'Direct Action' scheme will more than double the economic cost of reaching the bipartisan carbon pollution reduction target of 5% on 2000 levels by 2020.
	Australian Firms Face Fuel Tax Hit 9/6/2011 At least 1,500 Northern Territory businesses face a new 6.2 cents per litre tax on fuel under the federal government’s carbon tax, according to figures released as part of the Minerals Council of Australia’s response to the federal government’s proposed Clean Energy Future Legislation.
	Amendments Agreed To Singapore-Australia FTA 9/7/2011 Companies and investors in Singapore and Australia are now to have greater certainty in their investments, and protection of their intellectual property rights, following a review and amendments to the Singapore-Australia Free Trade Agreement.

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