On 15 October 2015 a bill passed both houses of Parliament and is now awaiting Royal Assent. The amended bill exempts Australian-owned private companies from requiring us to publish their income tax information.
The exemption is only available to companies that satisfy all of the following conditions. The company must:
We have written to exempt companies indicating that we anticipate their tax information will not be published publicly. We will provide certainty once the bill receives Royal Assent.
The exemption is only available to companies that satisfy all of the following conditions. The company must:
- be an Australian resident private company
- not be the wholly-owned subsidiary of a foreign corporate group
- not have a level of foreign shareholding greater than 50 per cent.
We have written to exempt companies indicating that we anticipate their tax information will not be published publicly. We will provide certainty once the bill receives Royal Assent.
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