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Australian Tax Office issues draft Practical Compliance Guidance on debt deduction creation rules and restructures

|Tax Alerts, National/Federal Taxation, G ...|Australia
Australia

  • The new draft Practical Compliance Guideline (PCG) provides the Australian Tax Office's (ATO's) compliance approach to reviewing arrangements that have been restructured in response to the new debt deduction creation rules (DDCR).
  • The ATO may apply a specific DDCR anti-avoidance rule or the general anti-avoidance rule to cancel all or part of a tax benefit.
  • A color-coded risk-assessment framework in…

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