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Australia Treasury Laws Amendment (Making Sure Foreign Investors Pay Their Fair Share of Tax in Australia and Other Measures) Act 2019

25 April 2019

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Approved Changes

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Australia

Australia has published the Treasury Laws Amendment (Making Sure Foreign Investors Pay Their Fair Share of Tax in Australia and Other Measures) Act 2019 (Act No. 34 2019), which received royal assent (was enacted) on 5 April 2019. The main schedules of the Act are summarized as follows: Non-concessional MIT income Schedules 1 and 5 amend the Income Tax Assessment Act (ITAA) 1997, the Income Tax Assessment Act (ITAA) 1936, and the Taxation Administration Act 1953 to improve the integrity of the income tax law for arrangements involving stapled structures and to limit access to tax concessions for foreign investors...