NZ submission on mutual recognition

New Zealand's submission to the review "Australia's Future Tax System" presented the case for introducing trans-Tasman mutual recognition of imputation and franking credits. The submission, which is now available to the public, was made at the invitation of the Australian Treasurer Wayne Swan in July, when both governments announced they were open to the idea of moving towards mutual recognition for imputation purposes of company taxes paid in the other jurisdiction. For more information on the review see www.taxreview.treasury.gov.au.