The Government announced in the 2016-17 and 2017-18 Budgets that it would implement the Organisation for Economic Co operation and Development’s (OECD) rules aimed at eliminating double non-taxation benefits from hybrid mismatch arrangements which exploit differences in the tax treatment of an entity or instrument under the laws of two or more tax jurisdictions.
The Government is seeking the community’s views on the exposure draft legislation that targets instances where tax is either deferred or not paid at all from the use of such arrangements. The draft legislation will apply broadly to related parties, members of a control group and structured arrangements and is designed to neutralise any hybrid double non-taxation benefits by either denying deductions or including amounts in assessable income.
- American Chamber of Commerce in Australia - PDF 975KB
- Australian Financial Markets Association - PDF 140KB
- Australian Private Equity and Venture Capital Association Ltd - PDF 207KB
- Chartered Accountants Australia and New Zealand - PDF 230KB
- Deloitte - PDF 211KB
- EY - PDF 664KB
- Financial Services Council - PDF 251KB
- Greenwoods Herbert Smith Freehills - PDF 141KB
- Insurance Group Australia - PDF 255KB
- KPMG - PDF 118KB
- Minerals Council of Australia - PDF 371KB
- Pitcher Partners - PDF 574KB
- PwC - PDF 149KB
- Tax Justice Network - PDF 252KB