Australia – Antigua & Barbuda sign tax information exchange agreement

The Minister for Revenue and Assistant Treasurer, Peter Dutton, today announced the signing of a Tax Information Exchange Agreement (TIEA) between Australia and Antigua and Barbuda. The agreement provides for full exchange of information on criminal and civil tax matters between Australia and Antigua and Barbuda. The agreement aims to improve transparency and to establish effective information exchange for tax purposes and provides important momentum to achieving the aims of the OECD’s Harmful Tax Practices Initiative and related Global Forum on Taxation. Read more of this article by clicking on the link below:

http://assistant.treasurer.gov.au/pcd/content/pressreleases/2007/006.asp

Superannuation: Consequential amendments introduced to Parliament

The Minister for Revenue and Assistant Treasurer, Peter Dutton MP, announced today that the Government will act to allow superannuation funds to continue to invest in instalment warrants, consistent with longstanding administrative practice. Read more of this article by clicking on the link below:

http://assistant.treasurer.gov.au/pcd/content/pressreleases/2007/008.asp

Superannuation: Federal Court appoints liquidators

The Federal Court of Melbourne has appointed liquidators to three companies which allegedly misused superannuation funds following a successful application by the Australian Securities and Investments Commission (ASIC). Read more of this article by clicking on the link below:

http://www.asic.gov.au/asic/asic_pub.nsf/byheadline/07-29+ASIC+winds-up+Melbourne-based+super+companies?openDocument

ASIC & PCAOB - Foreign Regulators: Senate passes Australian Securities and Investments Amendment

The Senate passed without amendment the Australian Securities and Investments Amendment (Audit Inspection) Bill 2006, enabling ASIC to enter into a cooperative audit arrangement with the PCAOB. Read more of this article by clicking on the link below:

http://parlsec.treasurer.gov.au/cjp/content/pressreleases/2007/003.asp