The Capital Revenue Debate and the Managed Funds Review

The Tax Specialist | 1 Apr 09
 

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Publication date: 01 Apr 09

Source: "THE TAX SPECIALIST" JOURNAL ARTICLE

Abstract:
This article is a reproduction of a paper delivered at the Taxation Institute 2009 Financial Services Conference. The paper has a particular focus on the capital-income debate surrounding Managed Investment Trusts. It concludes that trusts should be considered differently to investment companies. The paper also summarises some of the submissions to the Board of Taxation’s Managed Investment Trust Review. Finally, the paper looks at some aspects of the interplay between that Review and the new TOFA regime.

Author profile:

Author Photo - Andrew Mills CTA-Life
Andrew Mills CTA-Life
Andrew is Second Commissioner at the ATO with overall responsibility for the ATO’s law practice, including law interpretation, dispute resolution and the ATO’s role in policy and law design. Prior to joining the ATO, Andrew was a Director of the specialist national tax firm, Greenwoods & Freehills for over 20 years and Managing Director of the firm from 2006 to 2011. He has advised clients from large multinational businesses, small and medium enterprises, as well as superannuation funds, charities and individuals. Andrew was the 2006•07 President of The Tax Institute and was a Governor of the Taxation Research Foundation. He was instrumental in the business tax reform process and also represented industry and professional bodies in a number of committees and consultations. Andrew was a member of the Board of Taxation Advisory Panel from 2009 and acted as an expert panel member and consultant to a number of reviews.
Current at 03 July 2014
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