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NZ attacks QLD Government over trade and job risks

TRADE ministers on either side of the Tasman are questioning the legality of the Palaszczuk government’s proposed “Buy Queensland” procurement policy.

QLD Premier Annastacia Palaszczuk says she is unrepentant about her Buy Queensland procurement policy after it caused a stir across the Tasman in New Zealand.

A riled-up New Zealand Government extraordinarily slapped down the Premier, accusing her of “lacking an understanding of how trade works” and putting at risk Queensland jobs.

Premier Palaszczuk said the first Australia-NZ government procurement agreement struck by the Goss Labor government in 1991 “doesn’t make sense”.

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Australia’s changing investment orientation

Australian Government’s changes to foreign resident withholding tax regime

On 9 May 2017, Australia’s Federal Government announced substantial changes to the rate and threshold of its Foreign Resident Capital Gains Withholding (FRCGW) regime which has been in force since 1 July 2016.

Alliott Group member firm BRH Lawyers in Brisbane explain the changes and what foreign residents purchasing property in Australia need to be alive to.

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Australia’s changing investment orientation

Australia’s changing investment orientation

More Australian investment in South East Asia than New Zealand

Article first published in ANZ BlueNotes May 2017

It is perhaps not surprising in a country which has long been dependent on a net inflow of foreign investment a watershed event like this would be overshadowed by familiar debates over whether Chinese investors are driving up house prices or whether an Indian investment in coal should be subsidised by the government.

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Australia’s changing investment orientation

Evolution of tax residency definition by ATO needs to be observed by international companies

International companies with an interest in doing business in Australia will be interested to learn that the Australian Taxation Office (ATO) has recently issued a draft taxation ruling TR 2017/D2 Foreign Incorporated Companies: Central Management and Control test of residency. Simultaneously, the ATO has withdrawn its earlier tax ruling TR 2004/15 which covered similar issues.

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