As we reported back in May 2017, the Treasurer announced measures to assist with housing affordability in the 2017/2018 Federal Budget.  Draft legislation has recently been released for consultation, but with a couple of kickers, including the denial of certain tax benefits to investors in trusts that would otherwise qualify as managed investment trusts. 

This periodic update provides information on a number of recent significant legislative and regulatory developments in the funds and financial services industry.  

This update examines legislative and regulatory developments occurring in the fintech space over the past month.  In legislative developments, Australia’s crowd-sourced equity funding regime has continued to develop and cryptocurrencies are to become subject to anti-money laundering and counter-terrorism financing regime. 

Even more political noise over the last fortnight, but not as many concrete developments on the ground – although a couple of developments in our recent Australian Energy Market Update that have occurred are significant. To learn more download the latest update.

If you’re a foreign person who will hold, or who holds, certain water entitlements or contractual water rights as at 30 November 2017 you will need to notify the Commissioner of Taxation during the period starting on 1 July 2017 and ending on the later of 30 November 2017 and the 30^th day after you start to hold that entitlement or right and subsequently notify the Commissioner if there are any changes to those interests.

The Prime Minister’s announcement of the Junior Mineral Exploration Tax Credit on 2 September 2017 and an increase in sophisticated investor activity have provided further impetus to the generally positive junior energy and resources market.  In light of this, we have put together some brief considerations for junior miners this reporting season.