When is a foreign company an Australian resident for income tax purposes?
A recent taxation decision highlights that, in order for a foreign company to be treated as a foreign resident for Australian income tax purposes the central management and control must, in fact, be exercised overseas. A foreign company will fail the non-residents test if there is only nominal overseas central management and control.
The recent decision of Perram J in the Federal Court, Hua Wan[...]
International offshore business dealings? Undeclared taxable income? Make a voluntary tax disclosure now
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