On 19 June 2015, the Australian Treasury issued a release announcing that the Tax and Superannuation Laws Amendment (2015 Measures No. 1) Bill 2015 has been passed by both houses of parliament. The following summarizes the main aspects of the Bill according to the release.
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Among the changes, the Bill modernises the Offshore Banking Unit (OBU) regime to include certain mobile financial activities such as trading in commodities, leasing, and entering into securities lending and repurchas…