Small business energy incentiveJuly 2023
On 30 April 2023, the Australian Government announced it will provide businesses with an annual turnover of less than $50 million with an additional 20% deduction on spending that supports electrification and more efficient use of energy.
Australia's 2013 BudgetJune 2013
Australia's 2013 budget delivered on May 14, 2013 includes several tax measures aimed to finance social reform programs.
The tax measures include inter –alia strengthening of the capital gain tax regime for non- residents, deferral of planned personal tax cuts to the future and widening the tax base of corporate income tax.
Australia Turkey Double Tax TreatyMay 2010
Australia and Turkey signed on April 28, 2010 the first DTA, Double Tax Treaty, between the two countries.
The DTA which is expected to boost economic cooperation includes, inter alia, reduction of cross border tax withholding rates from payments of dividend, interest and royaltis and also allows exchange of tax information.
The DTA will come into force after ratification procedures by both countries.
Australia Chile free Trade AgreementFebruary 2009
Australia and Chile signed a free trade agreement, FTA, which will come into force on 6 March 2009.
The minister for trade, Simon Crean welcomed the agreement, declaring that it is the most comprehensive outcome on goods in any FTA that Australia has negotiated with another agricultural producing country since the Closer Economic Relations agreement with New Zealand signed in 1983.
The agreement immediately removes Chile's tariffs on almost 92% of tariff lines, covering 97% of goods currently traded.
This includes Australian coal, meat, wine, dairy exports and other industrial goods.
Tariffs on all existing merchandise trade will be eliminated by 2015.
For more information see Trade Focus by Australian department of foreign affairs and trade www.dfat.gov.au
Note: The information in this site is for general guidance only. Users of this site are advised to take professional advice before taking practical tax decisions.
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