Miscellaneous 2011

MITs, CIVs, IMR and other TLA s

Source: The Tax Specialist Journal Article

Published Date: 1 Jun 2011


The Report of the Australian Financial Centre Forum has produced a number of tax related
recommendations, two of which are the focus of this article: the investment manager regime and the collective investment vehicle proposals. What connects these topics is the establishment of an overarching policy and structure designed to improve the effectiveness of the existing regime for the taxation of investment income where there is a separation of economic ownership and management, and to improve the attractiveness of Australia as a financial services centre.

The article accordingly discusses the revised managed investment trusts (MIT) withholding regime and current and future issues, elective capital gains tax treatment of certain MIT assets, the scope of the MIT definition, the board of Taxation MIT review and the government response, the proposed investment manager regime, the Johnson Report, the Treasury consultation paper and current developments, and the collective investment review and what it may bring.

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Miscellaneous 2011

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