The Government has released for public consultation the draft guidance note for potential applicants regarding the processes for applications to the Treasurer for the economic infrastructure staples tax concession (the concession). The concession allows the Treasurer to approve applications for a 15 year concessional withholding tax rate for economic infrastructure projects in certain circumstances.
The draft guidance note aims to provide guidance to potential applicants on how to apply to the Treasurer for the concession by outlining:
- the criteria to access the concession;
- the process (which requires submission of a business case to Infrastructure Australia); and
- the information that applicants will need to provide.
The Government invites feedback from interested parties on the draft guidance note, in particular whether it provides sufficient information to enable interested parties to make an application.