*Australian superannuation funds seek relief from US FATCA rules which require the funds to collect data on members, identify US Taxpayers, and withhold 30% tax from Members who don’t comply [Su8]
The Financial Services Council (FSC) has expressed concerned that the Australian financial services industry will be unable to comply with the proposed US Foreign Account Tax Compliance Act (FATCA) regulations when they come into effect on 1 January 2013. Mr John Brodgen said that the FSC has briefed US Treasury and will give evidence to…