Australia has four anti-deferral regimes, i.e. controlled foreign companies, foreign investment fund, transferor trust and deemed present entitlement rules. These anti-deferral regimes are perceived as not being well coordinated and as a result, in 2006 were referred to the Board of Taxation for review and a final report is expected at the end of 2007. This article outlines the possibility of harmonizing the anti-deferral regimes, and the author discusses the historical development of the anti-deferral regimes, summarizes the overlap and other border issues between the regimes and lastly, speculates as to the design of a fully harmonized anti-deferral regime.