- clarifying the scope and meaning of investment in land for the purpose of deriving rent;
- introducing a 25% safe harbour allowance for non-rental, non trading income from investments in land;
- expanding the range of financial instruments that a managed fund may invest in or trade; and
- following consultation with industry, providing a further 2% safe harbour allowance at the whole of trust level for non-trading income.
For a copy of the media release, No 2008/56, 23 July 2008, go here
For a copy of the draft legislation, go here