background image

Australia Launches Consultation on CIV Non-resident Withholding Taxes — Orbitax Tax News & Alerts

On 3 November 2016, the Australian Minister for Revenue and Financial Services released a collective investment vehicle (CIV) non-resident withholding taxes paper for public consultation. The consultation includes three proposals:

  • No policy change to the existing tax settings;
  • Single non-resident withholding tax rate of 5% for CIVS and MITS under the Asia Region Funds Passport (ARFP); and
  • Uniform non-resident withholding tax rate of 5% for all CIVS and MITS, excluding rental income and taxable Australian real property capital gains.

Click the following link for the consultation page. Submissions are due by 2 December 2016.