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Australian Parliament Passes Legislation on Capital Gains Tax Treatment of Earnout Rights and CGT Withholding Obligations

|Approved Changes|Australia
Australia

On 22 February 2016, the Australian Senate passed the Tax and Superannuation Laws Amendment (2015 Measures No. 6) Bill 2015, following passage by the House of Representative on 4 February. The legislation includes changes in the capital gains tax (CGT) treatment of earnout rights and introduces CGT withholding obligations for purchases of certain Australian assets from foreign residents.

CGT …

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