Australian Taxation Office

New or updated materials on ATO website, including:

  • ATO's Legal Database is getting a refresh - ATO webinar to be held on 15 October 2015 to discuss the new database
  • ATO focus on contractors involved in 2018 Commonwealth Games construction projects

Multinational anti-avoidance Bill

Tax Laws Amendment (Combating Multinational Tax Avoidance) Bill 2015 was introduced into the House of Representatives this morning and proposes to give effect to a package of measures announced in the 2015-16 Federal Budget to combat multinational tax avoidance, including:

  • new multinational anti-avoidance law designed to counter the erosion of the Australian tax base by multinational entities using artificial or contrived arrangements to avoid the attribution of business profits to Australia through a taxable presence in Australia.
  • doubling the penalties imposed on significant global entities that enter into tax avoidance or profit shifting schemes. The amendments will not apply to taxpayers that adopt a reasonably arguable position.
  • implementation of Action 13 of the G20 and OECD’s Action Plan on BEPS, which concerns transfer pricing documentation and Country-by-Country reporting, into Australian domestic law.

Other Bills introduced

The following Bills were also introduced into the House of Representatives this morning:

Progress of Bills

The following Bills progressed in Parliament yesterday:

Standing Committee on Tax and Revenue

The Commissioner of Taxation, Inspector-General of Taxation and key stakeholders will appear at a public hearing in Canberra today as part of the Senate Standing Committee on Tax and Revenue'sInquiry into the 2013-14 Annual Report of the ATO. Issues to be discussed include the impact of digital technologies on tax practitioners and their productivity; the ATO’s recovery practices against individuals and small businesses; compliance strategies against ride-sharing services such as Uber; and improvements to dispute resolution processes.