The BCA today welcomed changes to capital gains tax rules for non-resident investors which bring Australia into line with international practice.

BCA CEO Ms Katie Lahey said the changes passed by the Senate today would help remove unnecessary barriers to investment in Australia and ensured our taxation arrangements were more competitive internationally.

“It is great to see the government and the ALP working together on sensible tax changes that bring us into line with international competitors,” Ms Lahey said.

“This move will help promote Australia’s attractiveness as an investment destination.

Business has long been supportive of moves to ensure Australia has a world-class taxation regime, and these measures are an important contribution to that goal,” she said.