CANBERRA, ACT, Sept. 10 -- The Treasurer of Australia issued the following media release:
The Albanese Labor Government's legislation to protect taxpayers and ensure foreign residents pay a fair share of tax has passed the Parliament.
This will bring the Capital Gains Tax (CGT) treatment of foreign residents more into line with the treatment of Australians and ensure they pay tax on Australian real property.
The legislation also strengthens the tax system by putting in place stronger penalties for misconduct, providing certainty and clarity for investors as well as support for renewable energy, improving the new merger system, and supporting charitable giving by expanding deductible gift recipient status and reforming giving funds.
The ...