Preview
Archived Posts Lists

Australian Regulatory Compliance Review
Australian Technology and IP Business
Credit Union and Mutual Law
National Consumer Credit Reform
Personal Property Securities Australia
Longview Business Insights
Australian Private Health Insurers
Wills, Trusts, Super
Mutuals Resource Centre

Resources

Commonwealth legislation
Corporate Governance
Not-for-Profit links
Regulator Links

August 20, 2012

New AML designated service: roll-overs to SMSFs

Treasury has released for public consultation an exposure draft of The Tax Laws Amendment (2012 Measures No. 5) Bill 2012: Roll-overs to self managed superannuation funds which amends the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (the AML/CTF Act).

The amendment provides that a new designated service be included at Table 1 of section 6 of the AML/CTF Act to capture the roll-over of funds from a superannuation fund that is not an SMSF (the transferring fund) to an SMSF (the receiving fund).

It is intended that this amendment will have the effect of requiring the transferring superannuation fund to comply with a range of obligations under the AML/CTF Act.

Print This Post Print This Post

Posted 20th August 2012 by David Jacobson in Anti-money laundering, Superannuation, Tax