Australia intangibles guide
April 26, 2011
By Paul Balkus and Melissa Heath of Ernst & Young
The Australian economy includes a large number of foreign owned multinationals. Many of their Australian subsidiaries have been operating in Australia for a long period of time and may own locally developed intangible assets such as local marketing intangibles and brand names. The Australian Tax Office (ATO) is focused on ensuring they get their fair share of any value shifted offshore and has recently released TR2011/1, which deals with the application of the transfer pricing provisions to business restructures of multinational enterprises.
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