The proposed rewrite of the Controlled Foreign Company rules is the latest step in a series of legislative amendments designed, in part, to increase the attractiveness of Australia as a holding jurisdiction for foreign multinationals but also to encourage Australian groups in their investments abroad. With Perth based companies heavily investing in Africa, expanding their businesses in Asia and the US, the proposed CFC rules will provide important risks, opportunities and challenges for any Australian company, large or small. This event went through the key elements of the proposed changes.
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