Component 1: Deny royalty tax deductions

Deny Significant Global Entities (SGEs) a tax deduction for royalties for the use of, or right to use, intellectual property within Australia, when either:

• the royalties are paid to a related party
• the party to which they are paid is in a jurisdiction that provides preferential tax treatment for intellectual property royalties.

Component 2: Change thin capitalisation rules

Component 1: Deny royalty tax deductions

Deny Significant Global Entities (SGEs) a tax deduction for royalties for the use of, or right to use, intellectual property within Australia, when either:

• the royalties are paid to a related party
• the party to which they are paid is in a jurisdiction that provides preferential tax treatment for intellectual property royalties.

Component 2: Change thin capitalisation rules

The proposal would require certain companies who received JobKeeper payments while remaining profitable or paying executive bonuses to repay the total of JobKeeper payments received, over a 10-year period.

The proposal would apply to businesses that received JobKeeper payments and had an annual turnover of greater than $50 million and meet one or more of the following criteria:

• The entity made a profit.
• The entity paid a bonus to an executive of an entity.

This policy would take effect from 1 July 2022.

The proposal would require certain companies who received JobKeeper payments while remaining profitable or paying executive bonuses to repay the total of JobKeeper payments received, over a 10-year period.

The proposal would apply to businesses that received JobKeeper payments and had an annual turnover of greater than $50 million and meet one or more of the following criteria:

• The entity made a profit.
• The entity paid a bonus to an executive of an entity.

This policy would take effect from 1 July 2022.

The proposal would require certain companies who received JobKeeper payments while remaining profitable or paying executive bonuses to repay the total of JobKeeper payments received, over a 10-year period.

The proposal would apply to businesses that received JobKeeper payments and had an annual turnover of greater than $50 million and meet one or more of the following criteria:

• The entity made a profit.
• The entity paid a bonus to an executive of an entity.

This policy would take effect from 1 July 2022.

The proposal would stop companies from claiming a tax deduction for travel and related expenses to and from tax havens.

• Australian taxpayers would be required to notify the Australian Tax Office if they have residency or citizenship in a tax haven.
• The Australian government would exclude companies based in tax havens from all government contracts.

The proposal would have effect from 1 July 2022

The proposal would stop companies from claiming a tax deduction for travel and related expenses to and from tax havens.

• Australian taxpayers would be required to notify the Australian Tax Office if they have residency or citizenship in a tax haven.
• The Australian government would exclude companies based in tax havens from all government contracts.

The proposal would have effect from 1 July 2022

The proposal would stop companies from claiming a tax deduction for travel and related expenses to and from tax havens.

• Australian taxpayers would be required to notify the Australian Tax Office if they have residency or citizenship in a tax haven.
• The Australian government would exclude companies based in tax havens from all government contracts.

The proposal would have effect from 1 July 2022

The proposal would stop companies from claiming a tax deduction for travel and related expenses to and from tax havens.

• Australian taxpayers would be required to notify the Australian Tax Office if they have residency or citizenship in a tax haven.
• The Australian government would exclude companies based in tax havens from all government contracts.

The proposal would have effect from 1 July 2022

The proposal would stop companies from claiming a tax deduction for travel and related expenses to and from tax havens.

• Australian taxpayers would be required to notify the Australian Tax Office if they have residency or citizenship in a tax haven.
• The Australian government would exclude companies based in tax havens from all government contracts.

The proposal would have effect from 1 July 2022