FATCA discussions welcomed by FSCBY BEN COLLINS | THURSDAY, 8 NOV 2012 11:05AMFormal discussions on an intergovernmental tax agreement were welcomed yesterday by the Financial Services Council. |
Editor's Choice
Super funds race to implement digital advice
Australian superannuation funds are increasingly turning to digital advice tools to bridge the longstanding gap between members needs and access to affordable financial guidance, according to executives at wealth technology Bravura Solutions.
Musk's $106bn fundamental-defying IPO lands on Nasdaq
SpaceX has raised US$75 billion ($106.8bn) in the biggest-ever stock market debut, valuing Elon Musk's rocket and satellite company at US$1.77 trillion.
Quinbrook appoints Australian lead
Energy transition infrastructure investor Quinbrook has appointed Tim Horneman as region leader for Australia, formalising his responsibility for the firm's local investment activities and business operations.
Former ASFA COO joins housing fund manager
The former chief operating officer of the Association of Superannuation Funds of Australia (ASFA) has joined C1 Capital Group as chief investment and operating officer.
Products
Expert Feed
When geopolitics becomes a portfolio risk
Geopolitics is back - again - and Australian investors can no longer treat it as distant background noise.
Does association membership still matter?
With all the changes the advice sector has experienced in recent years, such as regulatory reform and increased education and professional standards ...
Digital assets and where they stand in 2026
So far in 2026 digital assets have captured the headlines largely for the wrong reasons, but that doesn't tell the full story.
Rethinking default design in a changing market environment
The evolution underway in the US DC system highlights the value of periodically reassessing default design assumptions.
Featured Profile
Brian Redican
CHIEF ECONOMIST
NEW SOUTH WALES TREASURY CORPORATION
NEW SOUTH WALES TREASURY CORPORATION
What makes an economist an economist? TCorp chief economist Brian Redican reflects on over three decades of navigating Australia's economic cycles. Riddhima Talwani writes.
I am also not sure that how many people are unaware that income from pensions and superannuation funds held by US citizens in Australia are taxable in the US. Even if the funds were entirely funded by Australian earnings.
How do we get superfunds to issue reports on a calendar year basis? Statements straddling two financial years are difficult, if not impossible, to produce, but without them we tax preparers will have to require clients to give us both years of statements, then we have to go through every single transaction, convert the currency and add it all up to go on the tax return. This will make even a simple wage earner return take an estimated 20-30 hours to complete. The fees required to cover costs will make compliance a VERY expensive necessity for taxpayers.