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Protecting the corporate tax base from erosion and loopholes - Addressing profit shifting through the artificial loading of debt in Australia

14 May 2013 | Proposals Paper

On 14 May 2013 the Deputy Prime Minister and Treasurer announced a package of reforms to protect the corporate tax base from erosion and loopholes.

This proposals paper outlines measures included in that package that address profit shifting through the artificial loading of debt in Australia.

The proposals paper outlines changes to the thin capitalisation rules; the exemption for foreign non-portfolio dividend income and the removal of a tax deduction for interest expenses incurred in deriving certain exempt foreign income.

Submissions closed on Friday 12 July 2013

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