NEWS

Four New AMIT Compliant Funds Launched

  • OIG
  • News
  • No Comments

One Investment Group is pleased to announce it has launched four funds compliant with the Attribution Managed Investment Trust regime today. This enables the funds to apply a more streamlined approach to distributing trust income to investors, through the ‘attribution model’ which replaces the current ‘present entitlement’ model. The funds will also enjoy other benefits…

News cover image

AMIT is here

  • OIG
  • News
  • No Comments

Here’s a summary of the good news On 21 June 2016 ASIC released the much anticipated waiver paving the way for registered schemes to modify their constitutions to become attribution managed investment trusts (AMITs) without the need for a unitholder meeting. ASIC has also granted relief from the duty to treat members who hold interests…

ASIC relief for registered schemes to implement the AMIT regime

  • OIG
  • News
  • No Comments

AMIT Regime On 5 May 2016, the Tax Laws Amendment (New Tax System for Managed Investment Trusts) Act 2016 (AMIT Act), which establishes a new tax system for managed investment trusts (MITs), received Royal Assent. The rules under the AMIT Act (AMIT Regime) apply from 1 July 2016 unless the trustee of the MIT chooses…

NSW Duties – Marketable Securities to be Abolished 1 July 2016

  • OIG
  • News
  • No Comments

From 1 July 2016, the transfer of marketable securities, being shares and units transactions will no longer be subject to stamp duty in New South Wales (outside of the Landholder provisions).  Despite this deadline, many remain sceptical as to whether the State Government will step in at the final hour and once again defer the deadline…

Australia’s 2016-2017 Budget introduces new Collective Investment Vehicles

  • OIG
  • News
  • No Comments

New Collective Investment Vehicles In the Australian Government’s 2016-2017 budget papers, it will introduce two new collective investment vehicles (CIV): a corporate collective investment vehicle for the income years starting on or after 1 July 2017; and a limited partnership collective investment vehicle for the income years starting on and after 1 July 2018, which…

Attorney General’s report on the Anti-Money Laundering and Counter-Terrorism Regime

  • OIG
  • News
  • No Comments

Background The AML/CTF Act commenced operation on 12 December 2006 and together with Rules and Regulations, a regime was established for the purposes of combating money laundering and terrorism financing and to meet the global standards developed by Financial Action Task Force (FATF), the lead inter-governmental body that develops and promotes implementation of international anti-money…

Bill for Tax Incentives and Innovation Introduced into Parliament

  • OIG
  • News
  • No Comments

On 17 March 2016, the Tax Laws Amendment (Tax Incentives for Innovation) Bill 2016 was released by the Government.  The Bill contains the proposed new tax regime for early stage investors and start-ups and follows those incentives previously announced by the Government at the National Innovation and Science Agenda in December 2015. The benefits under the proposed regime will be available to all…

AMIT Regime Update

  • OIG
  • News
  • No Comments

Senate Committee Recommendation On 10 March 2016, the Senate Economics Legislation Committee (Committee) published its report which recommended that the Senate pass the proposed tax regime for managed investment trusts under the Tax Laws Amendment (New Tax System for Managed Investment Trusts) Bill 2015 (AMIT Bill). The Committee believes “that the new tax system for…

Employee Redundancy Funds

  • OIG
  • News
  • No Comments

Redundancy Funds or Worker Entitlement Funds are established for funding redundancies and other employee entitlements and are managed investment schemes, which are operated by a corporate trustee and governed by a trust deed. ASIC Corporations (Employee Redundancy Funds Relief) Instrument 2015/1150 provides relief for the requirement of these funds to be registered until October 2018.

Disclosure of fees and costs in PDSs and periodic statements

  • OIG
  • News
  • No Comments

As part of the enhanced fee disclosure regulations and ongoing reforms, issuers must meet certain requirements when disclosing fees and costs in Product Disclosure Statements (PDSs) and periodic statements to increase transparency for consumers. To address concerns in relation to how the industry participants were interpreting concepts such as “indirect costs” and costs associated with…