Tax Developments Australia

I. Australia

• Australia in its 2016/17 Budget announced that the company tax rate for all companies will decrease from 30% to 25% over the next 10 years beginning with the year 2016-17.
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• Asset-backed financing will be given the same tax treatment as conventional financing from 1 July 2018 to enable Australian businesses to more easily access investment, generating growth and job creation. The Asset backed financing is similar to conventional financing but relies on the trading of assets, sharing of profits or leasing to finance an investment, rather than interest repayments, providing an alternative route for large and long term projects.
• Changes to the tax and regulatory rules will be made to create two new forms of investment vehicles, a corporate collective investment vehicle from 1 July 2018 and a limited partnership collective investment vehicle from 1 July 2018. Creation of these investment vehicles are to encourage the export of funds management