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Tax Essentials

A guide to taxes in Australia

Deloitte Australia’s Tax Essentials are designed to guide both new businesses commencing operations in Australia and mature businesses, through some of the myriad of new tax measures introduced in the past few years in Australia.

This Tax Essentials steps through the various qualifying factors for companies to register eligible R&D activities and claim eligible R&D expenditures as an R&D tax offset as part of the company income tax return process. This Tax Essentials also provides an overview of the key integrity measures and how the R&D Tax Incentive interacts with other corporate tax aspects.

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The Multilateral Instrument (MLI) is an outcome of BEPS Action 15 and is designed to swiftly implement the tax treaty-related measures arising from the G20/ OECD BEPS project, without the need to renegotiate each double tax treaty. The MLI is already in effect for many of Australia’s tax treaties. This Tax Essentials provides an overview of the way the MLI will affect double tax treaties, and considers some of practical issues.

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This Tax Essentials steps through the various qualifying factors for companies to access the lower tax rate of 25% from the 2021—22 income year, including:

  • The aggregated turnover threshold; and
  • The passive income threshold.

Further, we note the implications for franking because of the changing tax rates.

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This Tax Essentials explores the Australian hybrid mismatch rules which were introduced in response to the OECD’s recommendations on neutralising a mismatch in tax outcomes arising from countries’ different tax treatment of arrangements involving particular types of instruments or entities. The rules generally have effect for income years beginning on or after 1 January 2019.

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