On 7 November 2022, Treasury released a consultation paper seeking comments on the design of a public register of beneficial ownership in Australia. Whilst the Government announced its intention to establish this register as part of its pre-election commitment to introduce a package of measures to enhance multinational tax integrity and increase tax transparency in Australia, this proposal is not solely focused on tax transparency. Its aim is to also support stronger regulatory and law enforcement responses to tax and financial crime, assist foreign investment applications, and facilitate the enforcement of sanctions.
International Tax and Treasury