Share on LinkedInShare on LinkedIn

ARTICLE · 10 MARCH 2011

Foreign Accumulation Fund Rules – More Revealed

Norton Rose Fulbright Australia
Explore more from Norton Rose Fulbright Australia

In February 2011 the Assistant Treasurer released a further exposure draft of the foreign accumulation fund (FAF) rules. These rules are intended as specific narrowly defined anti-avoidance rules that will replace the foreign investment fund (FIF) regime.

AustraliaGovernment, Public Sector
Peter Norman
Peter Norman
Fadi Khoury
Fadi Khoury
Author LinkedIn connections

In February 2011 the Assistant Treasurer released a further exposure draft of the foreign accumulation fund (FAF) rules. These rules are intended as specific narrowly defined anti-avoidance rules that will replace the foreign investment fund (FIF) regime.

The position at present is somewhat unusual having regard to the way Australian tax legislation is typically repealed and introduced. The Tax Laws Amendment (Foreign Source Income Deferral) Act (No. 1) 2010 took effect on 14 July 2010 and repealed the FIF rules. However, as at that date, legislation dealing with the anti-avoidance rules which were to replace the FIF rules was still at the initial exposure draft stage (and that draft was commented upon in our legal update of 5 May 2010, New Anti-roll-up Fund Rules to Replace Foreign Investment Fund Regime).

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

See more popular content from

Article

Yindjibarndi And WA Government To Appeal $150 Million Federal Court Native Title Compensation Decision

The State of Western Australia and the Yindjibarndi Ngurra Aboriginal Corporation have both filed appeals against a landmark Federal Court decision awarding $150 million in compensation for cultural loss caused by mining operations in the Pilbara region. This unprecedented case marks the first judicial determination of native title compensation for future acts and the largest cultural loss award in Australian history, establishing critical precedents for how compensation is assessed when native title rights
AustraliaGovernment, Public Sector
Holding Redlich
Holding Redlich
Article

NSW Data Centre Guidelines And Network Connection Consultation Paper

The New South Wales Government has released a comprehensive policy framework for data centre investment, establishing six core principles that developments must address while promising streamlined planning approvals. The framework introduces significant new compliance obligations around energy procurement, cost recovery contributions, and demand flexibility, including a $200,000/MW Major Network Upgrade Fee and requirements for renewable energy agreements with minimum 40% wind component.
AustraliaGovernment, Public Sector
Corrs Chambers Westgarth
Corrs Chambers Westgarth
Article

Victorian Construction Industry Royal Commission: What It Means For Project Participants

The Victorian Government has launched a Royal Commission into the Integrity of Major Public and Civil Infrastructure Construction Projects, examining allegations of corruption, criminal conduct and serious misconduct across major construction projects. The inquiry will scrutinise procurement practices, labour hire arrangements, subcontracting models, supply chains, project governance and government oversight, with implications extending far beyond Victoria's borders.
AustraliaGovernment, Public Sector
Piper Alderman
Piper Alderman