Financial Regulatory Forum

Australia to reform tax on financial securities

By John Manley
September 4, 2009
australia | debt | tax

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.
   For further information, go to:
http://assistant.treasurer.gov.au/listdocs.aspx?doctype=0&PageID =003&min=njsa
   (Reporting by Mark Bendeich; Editing by Jonathan Standing) ((mark.bendeich@thomsonreuters.com; +612 93731817; mark.bendeich.reuters.com@reuters.net))
   (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) Keywords: AUSTRALIA TAX/ 
  
Friday, 04 September 2009 01:51:49RTRS [nSYU007174] {C}ENDS

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