OrbitaxAustralia Budget 2022-23 Includes New Interest Limitation Rules, Deduction Limits on Intangible Payments to Low-Tax Jurisdictions, and Public CbC Reporting
|Proposed Changes|Australia
Australia's Treasurer Jim Chalmers delivered the Federal Budget for 2022-23 on 25 October 2022. The main tax-related measures of the budget are summarized as follows:
Commonwealth Penalty Unit – increase in amount
The Government will increase the amount of the Commonwealth penalty unit from AUD 222 to AUD 275, from 1 January 2023. The increase will apply to offences committed after the relev…
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