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
Before taking up the position of Second Commission at the Australian Tax Office (ATO) Andrew was a Director at tax specialist firm Greenwoods & Freehills (for approx 20 years), where he advised clients on a range of domestic and international tax issues, primarily in the financial services sector. Andrew's career spans over 30 years and includes periods in the Australian Taxation Office, as well as corporate and professional services organisations. Andrew was President of The Tax Institute for 2006/2007. He represented the Tax Institute on a number of different ATO and Treasury Committees and was a member of the expert panel to the Board of Taxation's Review of the Taxation of Managed Investment Trusts and the Review of Collective Investment Vehicles.
Current at 25 February 2014
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