2013-2014 Australian Federal Budget - Government attacks
thin capitalisation, offshore debt structures, tightens key tax
concessions for multinationals and miners and expands compliance
activities.
INTRODUCTION
The Australian Government announced a range of important
measures in the 2013-2014 Budget, which include significant
modifications to the thin capitalisation regime, tightening cross
border debt/equity structuring rules, critical changes to the
foreign resident capital gains tax (CGT) regime,
and reduced certain concessions for miners.
There are further initiatives to tighten several tax integrity
rules and to expand ATO compliance activities.
We would expect most of these measures to progress into law,
despite the upcoming election and the delayed start dates and
further consultation announced on various measures.
