ATO’s final view on Tax Residency of Foreign Companies
Taxpayers should examine the management of their foreign operations as stricter interpretation of the rules will be applied under TR 2018/5 and PCG 2018/D3 and transitional relief expires on from 13 December 2018.
Stream this recording multiple times at your convenience.
- $180.00 incl. GST
- PD hours: 1
In this webinar we will focus on:
• The ATO’s previous interpretation in TR 2004/15 and seminal historical decisions of Bywater Investments Limited v Commissioner of Taxation; Hua Wang Bank Berhad v Commissioner of Taxation  HCA 45 (16 November 2016)
• TR 2018/5 including the application date of 15 March 2017, being the date of release of the ruling in its draft form (TR 2017/D2)
• Draft Practical Compliance Guideline PCG 2018/D3, issued the same day as TR 2018/5, with practical guidance to assist foreign incorporated companies determine whether they are residents under the central management and control test of company residency
• Interaction of the new ATO guidance with Double Taxation Agreements
This session will deliver an overview of the new ATO guidance and what it means practically for:
• Australian outbound businesses (whether foreign-owned or Australian-owned) with subsidiaries in foreign jurisdictions
• Companies incorporated in foreign jurisdictions with Australian directors or group policies
• Taxpayers seeking relief using the transitional measures
Webinar Learning Outcomes:
• Understanding the evolution of the ATO and Australian judiciary’s view on tax residency of foreign companies
• Understanding the new ATO guidance on tax residency of foreign companies
• Understanding the action required by Australian outbound businesses (whether foreign-owned or Australian-owned) with subsidiaries in foreign jurisdictions and companies incorporated in foreign jurisdictions with Australian directors or group policies
• Understanding the immediate steps required by taxpayers seeking relief using the transitional measures that expire on 13 December 2018 (it is expected to be about 21 December 2018).
- Australian outbound businesses (whether foreign-owned or Australian-owned) with subsidiaries in foreign jurisdictions
- Companies incorporated in foreign jurisdictions with Australian directors or group policies
Gary Poon is a Corporate Tax Partner in BDO’s Tax team with over 10 years of experience in the tax profession. Gary has gained in-depth experience advising clients on cross border structuring and divestment, capital gains tax, corporate reorganisation, restructures, due diligence review for acquisitions and/or divestments, tax effect accounting and general tax planning, capital and dividend repatriation, tax consolidation, trusts, limited partnerships and international taxation generally.
Over the years, he has advised clients that operate across multiple sectors including agribusiness, retail superfunds, financial services providers, private trusts, listed and unlisted corporate groups in the manufacturing, information technology and biotech sectors. He enjoys advising clients on inbound structuring of investments and restructures for tax-effective divestment of assets, held by both local and foreign shareholders, including politically sensitive shareholders, as well as private agribusiness transactions.
You will be provided with:
• PowerPoint presentation slide deck
• Supporting documentation
• Webinar Recording to view multiple times for up to 6 months
• An opportunity to ask the presenter questions