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Bill Abolishing Foreign Investment Fund Rules Clears the Senate
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| Author: |
Alan Collett |
| Date: |
Friday, June 25, 2010 |
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In a welcome move that will benefit migrants to Australia the Senate has passed the Tax Laws Amendment (Foreign Source Income Deferral) Bill (No. 1) 2010, which abolishes Australia's Foreign Investment Fund Rules.
Once Royal Assent is received - this can be anticipated within the next 10 days - the repeal of the FIF Rules will apply to the 2010/11 and later income years.
A fuller discussion of the FIF Rules is in our earlier Go Matilda News article here.
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| Weblink: |
http://assistant.treasurer.gov.au/displaydocs.aspx?doc=pressreleases/2010/144.htm&pageID=003&min=njsa&Year=&DocType= |
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