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New Register Of Foreign Ownership – Investment In Australia Just Got More Complex!
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New Register Of Foreign Ownership – Investment In Australia Just Got More Complex!

By Mc Innes Wilson Lawyers, 11 Oct 2023

With effect from 1 January 2021, the FATA was amended to (among other things) introduce the Register of Foreign Ownership of Australian Assets. It was contemplated in the amendments to the FATA that the New Register would come into effect at a later time. That later time was 1 July 2023. [...]

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Latest News

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21 Nov 2023

The Corporate Transparency Act takes effect on January 1, 2024 – does your company have to report its beneficial owners to the federal government?

Effective on January 1, 2024, the U.S. Corporate Transparency Act (CTA) will require “reporting companies” to disclose to the U.S. government’s Financial Crimes Enforcement Network (FinCEN) details of their “beneficial owners”.

With the CTA, Congress has passed one of the most significant and sweeping laws affecting LLCs and companies doing business in the United States – covering both domestic and foreign entities – in the most aggressive effort to date against illicit terrorist financing, fraud and money laundering.

This client alert discusses the CTA’s reach and exceptions and disclosure obligations, which are retroactive and go well beyond any disclosure previously expected.

Read the full article

press
27 Oct 2023

Globalaw Foundation supports APAV the Portuguese Victim Support Association during GLAMM 2023

The Portuguese Victim Support Association, APAV, received a donation of €8,000 from the Globalaw Foundation at the Globalaw Annual Meeting on October 27th, 2023. The Globalaw foundation gives back to communities and organizations in need, with a focus on legal education and access to justice.

Read the full press release here

press
27 Oct 2023

Globalaw elects new President ahead of its 30th anniversary

Globalaw, an international network of independent law firms, that provides its members with a global platform to serve their clients’ legal needs, is pleased to congratulate Peter J. Brown as its new President following Globalaw’s Annual Members Meeting in Lisbon, Portugal on the 27th October 2023.

Read the full press release here.

news
11 Oct 2023

Foreign businesses doing business in Australia - some initial indirect tax considerations

Doing business in, or investing in, Australia may require an understanding of the goods and services tax regime (sometimes referred to as consumption tax, value added tax or goods and services tax). Here is a brief guide on GST in Australia for foreign businesses that may be about to do business, or invest, in Australia.

 

Read the full article by Ajay Ravi, McInnes Wilson Lawyers