Published on 01 Mar 13
by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE
The Proceeds of Crime Act 2002 (Cth) is the main instrument for tracing, restraining and confiscating the proceeds of federal crimes in Australia. In light of amendments to the Act in 2011 and 2012, and the establishment of the Joint Criminal Assets Confiscation Taskforce, it is anticipated that litigation pursuant to the regime will increase. Increasingly, too, the Act is being enlivened as a civil regulatory response to alleged tax evasion. At the same time, the Act, and especially the recent amendments, have attracted criticism.
Part 1 of this article traces the development of the federal law of forfeiture of criminal property in Australia up to and including the most recent amendments to the Act. Part 2, which will be published in the April issue of this journal, will explore the operation of the provisions as a civil regulatory response to tax evasion.
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