Your shopping cart is empty
MITs, CIVs, IMR and other TLA s
Published on 01 Jun 11 by "THE TAX SPECIALIST" JOURNAL ARTICLE
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.
Author profile
Andrew Mills CTA-Life
Andrew Mills, CTA (Life), is the Second
Commissioner, Law Design & Practice,
from the Australian Taxation Office, has
overall responsibility for the ATO’s law
practice, including law interpretation,
dispute prevention and resolution,
and the ATO’s role in policy and law
design. Andrew has more than 30
years experience in taxation, including
periods in the ATO, commerce and the
tax profession. Andrew was a Director
at Greenwoods & Freehills for more
than 20 years and managing director
of the firm from 2006 to 2011. Andrew
was President of The Tax Institute in
2006–2007 and is a former Governor
of the Taxation Research Foundation.
In practice, Andrew was an active
participant and representative of a
number of industry bodies. Andrew
holds a Bachelor of Business, a Master
of Laws and a Graduate Diploma
in Tax Law. Andrew is a Chartered
Taxation Adviser (Life), a member
of the Australian Committee of the
International Fiscal Association and a
graduate of the Australian Institute of
Company Directors.
- Current at
02 November 2018
