International Tax News

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Trump announces proposal to cut corporate #tax rate to 15%. UK already announced similar plans. What should Australia do?
Pt 1: TD 2017/11 - Interest income on a bank account is assessable to the person or persons who beneficially own the money in the account
Pt 2: If a parent holds an account for a child, the child beneficially owns the money & declares same. A trust #tax return is not required.
#CPI March Qtr.: rose 0.5% this quarter, compared with 0.5% in Dec Qtr.: rose 2.1% last 12 months compared to 1.5% over last calendrer year
#AFR Turnbull government is going back to basics with its May 9 budget and having another crack at dole bludgers
Rio Tinto Media release: amended #tax assessments don’t relate to #tax avoidance schemes as suggested by #ATO, and no penalties are payable
Pt 1: Chevron Case: first material transfer pricing case that the Commissioner has won. It was not an anti avoidance Part IVA case
Pt 2: First internationally significance transfer pricing of money case. It the #ATO $10m in Legals and out of pocket expenses.
#Labor says it will prohibit #SMSF property borrowing #LRBA ; impose #tax on vacant property; increase foreign investment application fees
#Labor calls for 12-month delay in start of #GST on low value imports

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