Banking on Tax is Deloitte's quarterly newsletter covering the core tax issues as they affect bankers. If you would like to receive this publication by email please contact us.
|We summarise the recently issued guidance on the income tax treatment of hybrid instruments in Singapore. We set out the factors considered in the guidance to determine whether a hybrid instrument is debt or equity for tax purposes.|
|We highlight major takeaways and some omissions from the Murray Inquiry’s interim report, as well as taxation observations relevant to the banking sector.|
|We consider how the reduction in the company tax rate and the introduction of a paid parental leave levy will affect how a company manages its franking account balance in the absence of transitional provisions.|
|We outline the alternative arguments under the commercial debt forgiveness provisions if the relevant loss absorption or non-viability provisions are triggered to convert Basel III compliant tier 2 subordinated debt into ordinary shares.|
|We summarise the Model Competent Authority Agreement and some of the differences between the Common Reporting Standard (CRS) and the FATCA Model 1 intergovernmental agreements. We also highlight the focus areas for the recent Australian Treasury discussion paper on implementation of the CRS in Australia.|
|PDF file | 8 pages|