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Corporate Tax Residency Review

Background

In August 2019 the Treasurer wrote to the Board of Taxation asking the Board to conduct a review of the operation of Australia’s corporate tax residency rules. The purpose of the review is to ensure that the rules are operating appropriately in light of modern, international and commercial board practices and international tax integrity rules.

Terms of Reference

The terms of reference set out by the Treasurer are for the Board to consider whether the existing rules:

Working Group

The Board has appointed Board member Neville Mitchell to lead the work on this review. Mr Mitchell is assisted by fellow Board members Dr Julianne Jaques and Mrs Ann-Maree Wolff. Representatives from academia, industry and the tax profession will also be assisting in the review.

Initial Consultation

On 6 September 2019 the Board of Taxation published a Consultation Guide on its corporate residency review project, in which it presented six consultation questions for stakeholder comment. The Board has since received numerous written submissions and has also conducted roundtable discussions in Sydney, Melbourne and Perth.

Further consultations

The Board has now prepared a second consultation paper for stakeholder review and input. The paper summarises the comments and feedback that have been collected by the Board to date, and sets out a number of proposed reform options. It also includes additional consultation questions for stakeholder consideration.

The Board welcomes submissions on the issues raised in the consultation paper. The closing date for submissions is 31 January 2020. Submissions can be made to CorporateResidency@taxboard.gov.au or addressed to the Treasury as follows:

Review of Australia’s corporate tax residency rules
Board of Taxation Secretariat
C/-The Treasury
Langton Crescent
Parkes ACT 2600

All submissions will be published, except where the submission is made on a confidential basis.

Submissions

The Board has received 13 submissions with two being confidential.

Submitter Download
Powerco 273KB
KPMG 133KB
Pitcher Partners 415KB
Deloitte 100KB

Business Council of Australia & Corporate Tax Association

      APPEA letter of support

      Minerals council of Australia

332KB

578KB

30KB

EY 631KB
Corporate Taxpayers Group 240KB
Financial Services Council 465KB
Greenwoods 253KB
Chartered Accountants Australia and New Zealand 289KB
Law Council of Australia 284KB
      Joint submission on Draft Taxation Ruling TR 2017/D2 104KB
      Joint submission on Practical Compliance Guideline PCG 2018/D3 676KB

Further Information

Please contact the Board of Taxation Secretariat at corporateresidency@taxboard.gov.au or +61 2 6263 4366 for more information.

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