BALDWINS • FoodLegal

Australian Lawyers and Consultants

Federal Budget's New International Tax System

June 2003

A very good outcome in the May 2003 Federal Budget was the announcement to liberalise Australia’s onerous tax regime affecting Australians who do business outside Australia. There is now considerable light on the horizon. Baldwins can advise on the proposed changes that will relax the requirement for attribution to the Australian owner entity of income and capital gains derived outside Australia by subsidiaries or CFCs or FIFs controlled by Australians and doing ‘active business’ outside Australia.

For further information, contact Joe Lederman at BALDWINS, Australian Lawyers & Consultants.

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