*ACCC takes action against tax agent travelling to Indigenous communities [101]

The Australian Competition and Consumer Commission (ACCC) has announced that it has instituted proceedings in the Federal Court against Adata Pty Ltd and Adata (Vic) Pty Ltd (together, Adata), alleging that Adata has breached the unsolicited consumer agreement provisions of the Australian Consumer Law (ACL). The ACCC said the allegations relate to Adata’s supply of…

*Automatic exchange of tax info re financial accounts: Treasury discussion paper [100]

Treasury on Thur 19.6.2014, released a discussion paper entitled, Common Reporting Standard for the automatic exchange of tax information. Treasury noted the Common Reporting Standard for the automatic exchange of tax information is a single global standard for financial institutions’ collection of financial account information on account holders who are residents in another jurisdiction, the…

FoFA amendments: Regulation registered to implement time-sensitive changes [99]

The Corporations Amendment (Streamlining Future of Financial Advice) Regulation 2014 was registered on Mon 30.6.2014, to give effect to the Government’s proposed amendments to the FoFA legislation to implement its 2013 election commitments. The Regulation amends the Corporations Regulations 2001 to implement the time-sensitive FoFA changes until the measures contained in the Corporations Amendment (Streamlining…