Mutual Recognition Agreement between the US and Australia - 29 August 2008
This week the Australian Securities and Investments Commission, the US Securities and Exchange Commission and the Australian Minister for Superannuation and Corporate Law, entered into a mutual recognition arrangement. Initially it will be limited to certain national exchanges and broker dealers who deal with institutional clients
Managed investment scheme issuers are now subject to anti-money laundering laws - 30 January 2008
On Thursday 31 January 2008, the Anti-Money Laundering and Counter-Terrorism Financing Regulations 2008 will take effect under the Anti-Money Laundering and Counter Terrorism Financing Act 2006 (AML/CTF Act).
Latest proposed changes to the section 128F interest withholding tax exemption - 16 May 2007
On 10 May 2007, Tax Laws Amendment (2007 Measures No. 3) Bill 2007 (Bill) was introduced to Parliament. The Bill includes proposed amendments which narrow the scope of the interest withholding tax (IWT) exemption in section 128F of the Income Tax Assessment Act 1936 (section 128F exemption) in relation to “debt interests” which are not in the form of debentures.
New changes to Capital Gains Tax for foreign residents - 8 December 2006
On 7 December 2006, the Australian Parliament passed the Tax Laws Amendment (2006 Measures No. 4) Bill 2006. The Act amends the capital gains tax (CGT) provisions of the Income Tax Assessment Act 1997 (Cth) as they relate to foreign residents. The changes take effect from the date of Royal Assent of the Act, which is expected to be on about 15 December 2006.
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