Australia to introduce a levy on employers who hire foreign labour
The Australian Federal Budget was delivered last week and among the measures announced is a plan to introduce a levy on employers who hire foreign labour under Australia’s specialist work visa rules. The levy will be used to train Australians to do such work. (Coverage with thanks to our Chartered Accountant colleagues in CAANZ)
Other tax measures on the international agenda are restrictions on non-residents buying Australian residential real estate, anti-hybrid measures and plans aimed at strengthening Australia’s multilateral anti-avoidance law (MAAL) to include partnerships and trusts seeking to avoid permanent establishment status in Australia. A levy on the liabilities of Australia’s five biggest banks was also announced along with tax measures aimed at assisting housing affordability and investment in infrastructure. Full details are available on the CAANZ website.