Publication
Europe steps up its fight against fraud
European watchdogs have long been focusing on enforcement against corporate crime with a great focus on anti-corruption, economic sanctions and money laundering.
Global | Publication | February 2017
The Australian Taxation Office (ATO) released a controversial Taxpayer Alert, TA 2017/1 on 31 January 2017. The Taxpayer Alert relates to structures involving both a company (taxed at the corporate rate) and a trust (taxed as a flow through vehicle). The ATO has particularly highlighted structures involving a managed investment trust (MIT) with overseas investors.
The Taxpayer Alert is likely to affect investors in numerous asset classes, including infrastructure and renewables.
Investors need to carefully consider whether their investments are likely to fall within the (very broad) parameters identified by the ATO and should develop a strategy for engaging with the ATO.
Which structures are the ATO concerned about?
The ATO is concerned about “rental staples” (and similar structures where the entities are not stapled). This structure involves the following:
Further, the ATO has also identified these structures as being of concern:
How will the ATO challenge them?
The ATO may challenge the structures under one or more of the following methods:
Which structures should still be OK?
Further information
For information about the implications of this development for your business, please contact one of our Australian Tax partners (see below).
Publication
European watchdogs have long been focusing on enforcement against corporate crime with a great focus on anti-corruption, economic sanctions and money laundering.
Publication
The Digital Markets, Competition and Consumers Act (DMCC Act) received Royal Assent on 24 May 2024 and is generally expected to come into force in autumn this year.
Publication
Head of Legal Operations, Stephanie Hamon, will be joining the panel discussion on "Simplifying Legal Tech Adoption and Implementation" at the Legal Tech Talk conference on June 13th (3:30 - 4:15 PM).
Subscribe and stay up to date with the latest legal news, information and events . . .
© Norton Rose Fulbright LLP 2023