Transitional approach extended: foreign companies
Foreign-incorporated companies that may have their residency status questioned as a result of the High Court’s decision in the Bywater Investments case will now have more time to organise their governance arrangements. The ATO has recently issued an update to a Compliance Guideline which gives these companies until 30 June 2023 to make any necessary changes. This is the fourth extension of the ATO transitional compliance approach and it says it will not be providing any further extensions.
