Asia-Pacific developments: progress in making Australia a financial services centre
Source: Taxation In Australia Journal Article
Published Date: 1 Mar 2011
The government has a clear policy of developing Australia as a regional financial centre. The Johnson Report, released in November 2009, found that our tax system is the greatest constraint to encouraging financial transactions from taking place through Australia. This article canvasses recent policy developments and the prospects of progressing some of the Johnson Report's key recommendations: the development of an investment manager regime; the establishment of an Asian funds management passport; reforming the offshore banking unit concession; and encouraging development in the corporate bond market. Taken together, the implementation of these reforms could have a significant impact on the capacity of Australian financial services companies to capitalise on opportunities in the Asia-Pacific region and beyond.
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Details
- Published By: Geoff Weir, Alf Capito
- Published On:1 Mar 2011
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