Logo - ABA Legal Group

Federal Budget 2021-22: ATO Inbound Investment Services

Federal Budget 2021-22: ATO Inbound Investment Services

The Government has announced that the Australian Taxation Office (ATO) will introduce an early engagement service to give certainty to potential inbound investors newly investing in Australia of their Australian tax obligations.

The service intends to assist investors by:

  • Providing information about how the Australia tax legislation will apply to their specific circumstances.
  • Expediting their private binding rulings and advance pricing agreements.
  • Supporting the investor to meet Foreign Investment Review Board (FIRB) timelines.
  • Providing information that the ATO receives through the service to the FIRB approval process to reduce time and costs associated with disclosure requirements.

The ATO intends to implement the service from 1 July 2021.

 

 

The information contained in this blog is general in nature and should not be considered to be legal, tax, accounting, consulting or any other professional advice. In all cases, you should consult with a professional advisor familiar with your factual situation for advice concerning specific matters before making any decisions. By reading this blog, you confirm your understanding of this disclaimer.

Toni Eisenhut
Got questions? Speak to our team of experienced tax lawyers today.


Sign up to our mailing list to receive the latest news & updates from ABA Legal Group.
Subscribe
close-link