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Australia Tax News

In McDermott Industries (Aust) Pty Ltd v. FCT, the taxpayer company argued that it was not required to withhold tax on bare boat charter payments that it made to a Singaporean company (S-Co). Australia's Federal Commissioner of Taxation sought to apply a rule that a deduction for a royalty subject to withholding tax is not available to the paying company, unless it has paid the withholding tax (in which case the deduction becomes available in the year in which the royalty was incurred). The taxpayer's position was that royalty withholding tax was not payable because S-Co had a deemed permanent establishment under the tax treaty between Australia and Singapore to which the royalties related.

6 December 2005

Legislation on loss recoupment rules for companies details

6 December 2005

On 15 November 2005, Australia and New Zealand signed in Melbourne, Australia, a protocol to update the1995 tax treaty.

6 December 2005

Australia's Trade Minister has announced that the tax treaty between Australia and Turkey is to be finalized shortly.

6 December 2005

Tribunal rules that fees for credit ratings services taxable as "royalty"

21 September 2005

In a joint press release issued on 14 July 2005, the Prime Minister of Australia and the President of the Republic of Chile announced that Chile will host in Santiago in early September 2005 the first round of negotiations for a tax treaty between Australia and Chile.

3 August 2005

Australia and New Zealand have announced that discussions recently began for a review of the Australia-New Zealand income tax treaty signed on 27 January 1995.

11 July 2005

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