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Tuesday 23 May 2017



As of 1 July 2017, the double taxation on digital currency transactions will be removed.

“Removal of the double-taxation of digital currency transactions is an important reform that will support the faster growth of this innovative sector of the economy," said CEO of the Australian Digital Currency & Commerce Association, Nicholas Giurietto.
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By Kwame Slusher

ASIC Media Release

ASIC has suspended the Australian financial services (AFS) licence of NSW-based Divitiarum Audax Pty Limited ('Divitiarum Audax') from 8 May 2017 for failing to lodge financial statements and auditor's reports for a period of four years. This is in breach of both Divitiarum Audax's legal obligations and licence conditions.

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By Kwame Slusher

ASIC Media Release

Ms Thuy Thi Vu, a former finance analyst at the Darwin branch of Alldrive Holdings Pty Ltd, trading as United Financial Services (WA), has been convicted and sentenced in the Local Court in Darwin on nine charges of submitting false or misleading information in support of loan applications.

Ms Vu was convicted after admitting...

By Kwame Slusher

ASIC Media Release

ASIC has banned Christopher Robert Con Foo (also known as Christopher Robert Confoo) from engaging in credit activities and providing financial services for a period of seven years. 

Mr Con Foo, a former finance business manager, arranged car finance and insurance for customers buying vehicles from South Yarra BMW, a ca...

By Kwame Slusher

ACCC Media Release

The Australian Competition and Consumer Commission has instituted proceedings in the Federal Court against Ultra Tune Australia Pty Ltd (Ultra Tune), a national motor vehicle repair franchisor, for a number of alleged failures to comply with the Franchising Code (the Code) and for alleged breaches of th...

By Kwame Slusher

Austrac Media Release

These draft amendments will ensure that International Funds Transaction Instructions between PayPal Australia and PayPal Hong Kong are reported to AUSTRAC. They are consistent with previous amendments to Chapter 51 in 2012 which introduced reporting requirements for PayPal Singapore and PayPal USA.

Access the draft a...

By Kwame Slusher

ACCC Media Release

Nearly 6000 businesses reported being targeted by scams in 2016 according to the Australian Competition and Consumer Commission’s Targeting Scams report, with losses totalling around $3.8 million, an increase of almost 31 per cent.

The highest losses were to computer hacking, fake investment s...

By Kwame Slusher

Thursday 18 May 2017



The powers of the Australian Competition and Consumer Commission (ACCC) needs to be stronger so that they can ensure that the integrity and faith in the Australian free trade market stays intact. 

In the recent speech giving by the ACCC chairman Rod Sims highlighted the delicate balance of having regulatory intervention of the regulator throug...

By Kwame Slusher

Wednesday 17 May 2017




At the ASIC Forum this year, there was concern expressed about the apathetic attitude Australian have towards their superannuation funds, and how superfunds have been investing their money.

Thus, the questions posed dealt with whether this disengagement was the result of consumers making little effort to be engaged, or is it instead due to t...

By Kwame Slusher

ACCC Media Release

The number of people reporting scam activity in Australia was at record levels in 2016 according to the Australian Competition and Consumer Commission’s annual Targeting Scams report, with a 47 per cent increase in scam reports to the ACCC compared to 2015.

In 2016, the ACCC’s Scamwatch and th...

By Kwame Slusher