Progress of Tax Issues Australia will convene a meeting of the Tax funds management industry, including through Reference Working Group bringing together tax adjusting its tax settings. These include legislating specialists from participating and prospective the Investment Manager Regime, and announcing ARFP economies which will highlight the a tax and regulatory framework for a new CCIV. importance of tax neutrality between ARFP This new CCIV will provide prospective investors economies to the effective implementation of the with access to a passive investment vehicle with ARFP. This Working Group will reinforce the flow through taxation, using vehicles commonly open and consultative dialogue between ARFP used overseas and which will be regulated as a economies and will provide a good opportunity to financial services product under Australia’s reiterate that the tax treatment of funds and financial services regime. Following the investors in the ARFP should not be a barrier to implementation of this new CCIV, the Australian greater market access. Government will turn its attention to establishing a Limited Partnership Collective Investment Vehicle to further expand the suite of service Domestically, Australia continues to take steps to offerings available to Australian fund managers. improve the competitiveness of the Australian
Progress of Tax Issues Australia will convene a meeting of the Tax Reference Working Group bringing together tax specialists from participating and prospective ARFP economies which will highlight the importance of tax neutrality between ARFP economies to the effective implementation of the ARFP. This Working Group will reinforce the open and consultative dialogue between ARFP economies and will provide a good opportunity to reiterate that the tax treatment of funds and investors in the ARFP should not be a barrier to greater market access. Domestically, Australia continues to take steps to improve the competitiveness of the Australian funds management industry, including through adjusting its tax settings. These include legislating the Investment Manager Regime, and announcing a tax and regulatory framework for a new CCIV. This new CCIV will provide prospective investors with access to a passive investment vehicle with flow through taxation, using vehicles commonly used overseas and which will be regulated as a financial services product under Australia’s financial services regime. Following the implementation of this new CCIV, the Australian Government will turn its attention to establishing a Limited Partnership Collective Investment Vehicle to further expand the suite of service offerings available to Australian fund managers.
ARFP_AR_2017.docx