Post by CPA Australia

CPA Australia was quoted in today’s The Australian Financial Review on the proposed retrospective changes to foreign resident capital gains tax. The proposal to apply new rules back to 2006 represents more than a technical clarification – it is a significant policy shift. As highlighted in the AFR article, reopening transactions from nearly two decades ago raises serious concerns about certainty, consistency, and Australia’s attractiveness as an investment destination. Stable and predictable tax settings are critical to maintaining investor confidence, particularly in sectors like infrastructure, energy and resources that rely on long-term capital. “Reaching back almost 20 years to reopen settled transactions is deeply problematic.” “Applying new interpretations of the law back to 2006 sends a clear signal that the rules can change after the fact, and that makes Australia a less attractive place to invest.” CPA Australia Tax Lead Jenny Wong. Read more 👉 https://bit.ly/4cllFhL