Australia Securities Group Seeks Exemption From OECD Minimum Tax

Australian securities investors said they could face unexpected tax liabilities under the global minimum tax that is part of the OECD-led global tax deal signed by more than 140 countries in 2021.

Securitization vehicles, which pool debt and sell it as bonds to investors, could be unfairly taxed if they’re part of a multinational company, Australian Securitisation Forum tax partner David Wood said. The forum represents banks and investors in the securitization and covered bond markets in Australia and New Zealand.

Wood was speaking at a Tuesday hearing on legislation to introduce the global minimum tax before Australia’s Senate Economics ...