ARTICLE · 04 JULY 2011

Proposed FAF rules will not apply for the 2010-11 income year

Moore Australia

Explore more from Moore Australia

Shorten MP jas announced that the FAF rules will not apply for the 2010-11 income year.

AustraliaStrategy

Author LinkedIn connections

In one of his final announcements before the end of the 2011 financial year, the Assistant Treasurer, the Hon Bill Shorten MP, announced that the proposed Foreign Accumulation Fund (FAF) rules will not apply for the 2010-11 income year.

Moore Stephens welcomes this timely announcement as it provides certainty for the funds management industry and its investors at the commencement of the reporting season for the 2010-11 year.

The FAF rules are intended to replace the Foreign Investment Fund (FIF) regime that was repealed from 30 June 2010. According to the Exposure Draft Legislation released in February this year, the FAF rule is a targeted integrity measure aimed, according to Treasury, at the most abusive cases of deferral in the non-control environment. Broadly, a 'foreign accumulation fund' is a fund:

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

NSW Government Bulletin: As AI Use Grows, Are Your Governance Frameworks Keeping Pace?

AustraliaStrategy

Holding Redlich

Data Centres: Who Bears The Loss When Critical Dependencies Fail?

AustraliaStrategy

Operational Readiness: Reducing Project Risk Before Day One

AustraliaStrategy

Frontier AI: APRA And ASIC Expect Action, Not Awareness

AustraliaStrategy

Gilchrist Connell

APRA and ASIC's coordinated approach to frontier AI: implications for financial services entities Read More

AustraliaStrategy

Corrs Chambers Westgarth

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

Read more about

See more popular content from

Strategy

APRA and ASIC's coordinated approach to frontier AI: implications for financial services entities Read More

APRA and ASIC have issued coordinated guidance on frontier AI risks, requiring financial services boards to demonstrate direct oversight of AI governance, cyber resilience and third-party dependencies. The regulators' expectations build on existing prudential standards and directors' duties, with enforcement signals indicating that proportionate action must be taken before incidents occur.

AustraliaStrategy

Corrs Chambers Westgarth

Frontier AI: APRA And ASIC Expect Action, Not Awareness

APRA and ASIC have called on regulated entities to demonstrate that their governance, cyber controls, operational resilience and third-party risk arrangements can operate at frontier-AI speed.

AustraliaStrategy

Gilchrist Connell

Mirror, mirror on the wall: Is copy trading compliant with the law?

ASIC has specifically listed copy trading as one of its priorities for supervision.

AustraliaStrategy

Operational Readiness: Reducing Project Risk Before Day One

Operational readiness is frequently addressed too late in project lifecycles, creating avoidable risks during transition and early operations. By embedding readiness principles early—from strategy through delivery—organisations can reduce project risk, improve outcomes, and influence whole-of-life costs through clear governance, defined accountabilities, and commercial arrangements that support successful transition to sustainable operations.

AustraliaStrategy

Climate Change Think Tank To Look At Impact On Boardrooms

Clayton Utz has teamed up with The Climate Council Inc. to host this special Climate Change Think Tank on 12 August in Clayton Utz's Sydney office, which will give participants the opportunity to engage in a lively debate on relevant climate change issues in the investment and finance industry.

AustraliaStrategy

NSW Government Bulletin: As AI Use Grows, Are Your Governance Frameworks Keeping Pace?

As AI adoption accelerates across NSW Government agencies, with 357 tools now in use across major public sector organizations, the need for robust governance frameworks has never been more critical. This bulletin examines the current state of AI implementation in NSW, identifies key barriers to responsible adoption, and provides practical guidance for agencies to strengthen their AI governance, risk management, and assurance processes.

AustraliaStrategy

Holding Redlich

CEO Update: Investing In People – A Wise Investment For The Future

Pick up any financial publication these days and you’ll read that we are entering an age where Artificial Intelligence will increasingly replace human interaction.

AustraliaStrategy

Bartier Perry Solicitors

Wheels in motion: regulatory considerations for Australian automotive investments

Australia's thriving automotive sector offers vast opportunities, but timely and thorough business planning is essential.

AustraliaStrategy

Corrs Chambers Westgarth

Data Centres: Who Bears The Loss When Critical Dependencies Fail?

Australia's data centre pipeline is expanding rapidly, driven by cloud, AI and digital infrastructure demand. As AEMO identifies data centres as a material growth driver for electricity demand, these facilities have evolved beyond property or technology concerns into board-level governance, continuous disclosure and insurance risk issues requiring comprehensive strategic oversight.

AustraliaStrategy

The Investment Landscape For Space Technology In NSW And Australia

Once the domain of government agencies, today the global space landscape is increasingly driven by private organisations pursuing a more entrepreneurial and commercial utilisation of space. We have come to depend on space-enabled technologies, such as satellite-based services, for everyday activities including navigation, telecommunications, weather forecasting, emergency management, banking, mining, agriculture and transportation.

AustraliaStrategy

Bartier Perry Solicitors