Australian tax board consulting on corporate tax residency rules

Comments must be received by October 4, 2019.

The Australian Board of Taxation is consulting stakeholders on changes relating to Australia’s corporate tax residency rules.

Earlier in August, the Treasurer tasked the Board to conduct a review of the operation of Australia’s corporate tax residency rules with a view to ensuring that the rules are operating appropriately in light of modern, international, and commercial board practices and international tax integrity rules.

The Board is particularly considering whether the existing rules:

• minimize commercial uncertainty and ambiguity;
• are consistent with and aligned with modern day corporate board practices;
• protect the tax system against multinational profit shifting; and
• otherwise support Australia’s tax integrity rules as they apply to multinational corporations.

Comments must be received by October 4, 2019.