Australia has published the Treasury Laws Amendment (Black Economy Taskforce Measures No. 2) Act 2018, which was approved in parliament on 15 November 2018 and received royal assent (was enacted) on 29 November 2018. The schedules of the Act are summarized as follows:
Schedule 1 - Removing tax deductibility of non-compliant payments
Schedule 1 includes amendments to deny an income tax deduction for certain payments if the associated withholding and reporting obligations have not been com…