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RSM Bird Cameron

Australia: Company PE Income may not be exempt from tax

1 April 2014
Australia’s tax law exempts from tax foreign income derived by a company “in carrying on a business, at or through a permanent establishment (“PE”)”. Capital gains are also exempt from tax where “the company used the asset wholly or mainly for the purpose of producing foreign income in carrying on a business at or through a PE”.

RSM International celebrates Tax Awards for RSM Bird Cameron in Australia

17 March 2014
RSM Bird Cameron has again been recognised for its commitment to clients, winning the Business Review Weekly (BRW) Client Choice Awards for "Best Tax Provider", "Best Western Australian firm" and "Most Cost-Conscious firm" at an awards ceremony held in Sydney, Australia in February.

Australia: Domestic ship and aircraft tax

1 January 2014
Australia’s domestic tax law imposes a 5% tax on amounts paid to foreign owners or charterers of ships or aircraft for the carriage of passengers, live-stock, mail or goods shipped in Australia (section 129 of the Income Tax Assessment Act, 1936). Section 129 can apply irrespective of where the passengers or goods are discharged.

Australia: Investment Manager Regime

1 August 2013
On 4 April 2013, the Government released exposure draft legislation and explanatory materials which propose to implement the third and final element of the Investment Manager Regime (IMR) as announced by the Government on 16 December 2011. Context of amendments

Australia: Transfer Pricing: Tax Laws Amendment Bill

1 March 2013
Further to the release of the Treasury’s exposure draft in mid-November, the Government has now introduced into Parliament stage two of the transfer pricing reforms, the Tax Laws Amendment (Countering Tax Avoidance and Multinational Profit Shifting) Bill 2013.

Australia: Living Away From Home Allowance

1 October 2012
In an earlier edition of Border Crossing - 1st Quarter 2012 - we reported on significant and adverse changes to the Living Away From Home Allowance (LAFHA) provisions. Those changes have now been legislated, with effect from 1 October 2012.

Australia: Removal of FBT Concessions for Foreign Executives

1 January 2012
The Australian Government’s latest revenue raising measures are again targeting international businesses. The ‘Living away from home’ allowance and other related benefits have been denied concessional tax treatment for international employees along with increased substantiation requirements for all others. Background

Australia: Cross-border transfer pricing reforms

12 June 2001
On 24 May, the Government introduced into Parliament the first piece of draft legislation in its reform of Australia’s transfer pricing provisions.