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News & Knowledge

MSI Australia & New Zealand: May news-round up

25th May 2017

Each month MSI publishes a selection of articles written by its AusNZ member firms highlighting important topical issues in the Australia & New Zealand region.

Understanding the changes to Superannuation

By Anne Rollason, MSI Ragg Weir, Accountants, Melbourne.

There have been a number of changes during the last 12 months that are particularly relevant to superannuation funds and self funded retirees. Some of the changes that have been introduced and may affect you from 1 July 2017.

NSW strata reform to pave the way for Sydney’s growth

By Lachlan Commins, Patterson Houen & Commins, Lawyers, Sydney.

Late in 2016 two pieces of legislation came into force in New South Wales: the Strata Schemes Development Act 2015 (the “Development Act”) and the Strata Schemes Management Act 2015 (the “Management Act”). Although they are separate Acts, they are considered together as part of the same ‘package’ of legislative reform.

Changes to foreign trust disclosures in NZ

By Michael Woodward, Mackay Bailey, Accountants, Christchurch.

Late last year there was a media storm as a result of information uncovered in the release of the ‘Panama Papers’ from a Panamanian law firm. The release of this information brought into the spotlight the ability to use New Zealand’s trust regime as a tax haven. NZ foreign trusts have been favoured due to the level of privacy and secrecy.