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The recent turbulence in our markets, particularly in the managed funds area, provides a timely reminder to advisors that they need to closely monitor emerging tax developments. This paper provides an analysis of interim changes to Division 6C, and potential changes of broader application as a result of the Board of Taxation's review, including:
ways to clarify the scope and meaning of "investment in land" for the purpose of deriving rent
a 25% "safe harbour" test for non-rental income from an investment in land
an expansion of the range of financial instruments that a trustee can trade or invest in without triggering company taxation
insights on the Board of Taxation's review of the taxation of managed funds.
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