A consultation paper on the public beneficial ownership register has been released by the government. During the election, it was recommended to tackle multinational tax avoidance by publicly recording who ultimately controls and receives benefits from a company or legal vehicle operating in Australia. However, while the consultation paper provides scant details, it does appear that the proposed register will encompass a broader range of entities than just multinationals and will include proprietary companies and unlisted public companies.
Click to read our article: Public beneficial ownership register proposed (0.80 MB PDF)