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The Capital Revenue Debate and the Managed Funds Review

Published on 01 Apr 09 by "THE TAX SPECIALIST" JOURNAL ARTICLE

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

Andrew Mills CTA-Life
Photo of author, Andrew MILLS Andrew Mills, CTA (Life), is the Director, Tax Policy and Technical at the Tax Institute, a Senior Fellow at Melbourne University Law School and a member of the Tax and Transfer Policy Institute Advisory Board. Previously, Andrew was the Second Commissioner, Law Design & Practice, at the Australian Taxation Office from 2013 - 2019. Andrew has 40 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 and a lecturer in the taxation in the Masters program at Sydney Law School. 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 Executive Committee of the International Fiscal Association and a graduate of the Australian Institute of Company Directors. - Current at 13 July 2020
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