Review of the Foreign Source Income
Anti-Tax-Deferral Regimes
A Report to the Assistant Treasurer and
Minister for Competition Policy and Consumer Affairs
The Board of Taxation
September 2008
© Commonwealth of Australia 2009
ISBN 978-0-642-74512-5
This work is copyright. Apart from any use as permitted under the Copyright Act 1968, no part may be reproduced by any process without prior written permission from the Commonwealth. Requests and inquiries concerning reproduction and rights should be addressed to:
Commonwealth Copyright Administration
Attorney-General's Department
3-5 National Circuit
BARTON ACT 2600
Or posted at:
Foreword
The Board of Taxation is pleased to submit to the Assistant Treasurer and Minister for Competition Policy and Consumer Affairs this report following its review of the foreign source income anti-tax-deferral regimes.
The Board established a Working Group, chaired by Mr Chris Jordan, to conduct the review. The Board conducted extensive consultation with industry and received assistance from officials from the Treasury and the Australian Taxation Office. The Board would like to thank all of those who so readily contributed information and time to assist the Board in conducting the review.
There is widespread appreciation of the economic importance for the Australian economy to continue to globalise, and the benefits that this brings to Australia.
Australia's tax policy, including the foreign source income anti-tax-deferral regimes, plays an important part in ensuring the country's ability to sustain and improve its competitiveness in a changing global environment.
The Board believes that the recommendations contained in this report will make an important contribution towards ensuring that Australia's tax policy does not unnecessarily impede Australian businesses with offshore operations while maintaining appropriate levels of integrity.
On behalf of the Board, it is with great pleasure that we submit this report to the Assistant Treasurer and Minister for Competition Policy and Consumer Affairs.
R F E Warburton AO
Chairman, Board of Taxation
C D Jordan AO
Chairman of the Board's Working Group
Deputy Chairman, Board of Taxation
Next: Executive Summary
Return to: Table of Contents
