Report of the Working Group
On 14 May 2013, the then Government announced that it would improve the efficiency and equity of the tax system by removing any systemic tax advantages available to foreign–owned MEC groups, and those groups capable of forming MEC groups, that are not available to Australian–owned ordinary consolidated groups.
A tripartite working group (the Working Group), which brought together the expertise and knowledge of private sector experts and Treasury and ATO officials, was established to report to Government on how this measure could be implemented.
On 6 November 2013, following a process which considered all announced but unenacted measures, the Government announced that it would proceed with this measure as announced.
The Working Group subsequently provided a report to Government in April 2014.
The Government has responded to the Working Group’s report as part of the 2014-15 Budget. Further details are available from the Assistant Treasurer’s press release of 13 May 2014.
Corporate Tax Unit
PARKES ACT 2600
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