On 22 June 2006 the Government introduced a raft of amendments that will completely transform Australian CGT outcomes for many non-residents. Tax Laws Amendment (2006 Measures No 4) Bill 2006 will replace the broad list of Australian assets subject to CGT in the hands of a nonresident with a narrow focus on the disposal of interests in Australian real property and Australian permanent establishment assets. It will also introduce a form of tracing to look through interposed entities to underlying Australian real property. This aspect of the new rules resembles the stamp duty regime for land rich trusts and companies.
maintenance