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Showing 1 - 5 of 5 results for "Offshore Banking Unit"

Magellan to move to higher tax rate

KANIKA SOOD  |  WEDNESDAY, 18 AUG 2021
... lightening its total tax bill for FY21 by about $44 million. This is because MFG is currently recognised as an Offshore Banking Unit, which allows its assessable offshore income after costs to be taxed at 10%, while the domestic income is taxed at 30%. ...

Frydenberg outlines tax changes

ALEX BURKE  |  MONDAY, 22 JUN 2015
... budget." Specifically, the Tax and Superannuation Laws Amendment (2015 Measures No.1) Bill 2015 streamlines the Offshore Banking Unit (OBU) regime to include commodities trading, leasing and securities lending and repurchasing agreements, while excluding ...

Macquarie admits "unresolved matters" with ATO

LAURA MILLAN  |  WEDNESDAY, 21 MAY 2014
Macquarie Group has admitted it has "unresolved matters" with the Australian Tax Office (ATO), but it considers it holds "appropriate provisions" in those. The group reacted to information published by Fairfax Media, which revealed a full-scale audit ...

Macquarie loses court battle with ATO

JAMES FERNYHOUGH  |  FRIDAY, 6 SEP 2013
... its Federal Court battle with the Australian Tax Office (ATO) over a tax dispute relating to Macquarie's offshore banking unit (OBU) income allocation. Macquarie had been seeking to prevent the ATO from conducting a retrospective audit of Macquarie's ...

Johnson Report maps out new world order

MICHELLE BALTAZAR  |  FRIDAY, 15 JAN 2010
... UCITS model, which is already [benefiting] Europe," he said. Finally, the report also proposed an improved Offshore Banking Unit model designed to increase the volume of offshore financial transactions channeled domestically. O'Shaughnessy said the report ...
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