Taxman gets tough on privateers

6 December 2010

Professor Michael Dirkis commented on the Tax Commissioner warning to the private equity industry that it must be more transparent.

In an article published in The Australian, Professor Dirkis said, "The Tax commissioner had to respond to try and cover a revenue hole created by the Government's decision to follow international norms and only tax non-residents on capital gains associated with real property (including mining interests)

"However, a well advised non-resident investor will still be able to sidestep the ATO's strategy".

View the entire article - Taxman gets tough on private equity profits - The Australian

Contact: Greg Sherington

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