Business Services Industry
PE or no PE? A lessor's question?
Australasian Business Intelligence, January, 2007
Byline: David Pritchard and Andre Spnovic
Jan 18, 2007 (Taxation in Australia - ABIX via COMTEX) -- The taxation of substantial equipment let from non-resident lessors no longer seems simple. Like the OECD, the Australian Taxation Office held that the presence of the equipment did not create a permanent establishment (PE) and so payments to the non-resident lessor would be subject to royalty withholding tax. The matter has been complicated by the ruling in "McDermott Industries (Aust) Pty Limited 2005 ATC 4398". The case established principles that could encompass a range of substantial equipment. It may have given rise to a large number of PEs and created associated tax issues.
Publication Date: December 2006
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