Australia to reform tax on financial securities

September 4, 2009

australian_flag    SYDNEY, Sept 4 (Reuters) – The Australian government plans to change the law to clarify that dividends paid to holders of debt-like securities may be eligible for a tax credit, under reforms to tax arrangements for financial securities.
   Assistant Treasurer Nick Sherry said in a statement on Friday he would move several amendements in a bid to further modernise the tax treatment of financial instruments, including bonds, derivatives, promissory notes, swaps, forwards and options.
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   (Reporting by Mark Bendeich; Editing by Jonathan Standing) ((; +612 93731817;
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Friday, 04 September 2009 01:51:49RTRS [nSYU007174] {C}ENDS

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