Australia Private Equity Tax Rule Delayed Again
MELBOURNE (Reuters) - Australia's tax office has delayed for the third time a final decision on taxing gains from private equity asset sales, after its draft rulings last year sent shockwaves through the country's $20 billion private equity industry. The decision was due on May 26, but a tax office spokeswoman said on Tuesday the rulings were delayed "until a government review of policy in this general area" has been completed. The Australian Taxation Office (ATO) hit U.S. private equity firm TPG Capital with a $628 million tax bill in November on the $1.4 billion profit it made on the sale of department store chain Myer (MYR.AX).
25 May 2010•2 mins read
