Sun, Feb 1, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

PwC Australia writes on the new investment manager regime for AIMA Journal

Friday, June 21, 2013

Beverly Chandler, Opalesque London: Writing in the AIMA Journal, PwC Australia’s tax team of Ken Woo, Tax Partner, Grahame Roach, Tax Director, and Darren Mack, Tax Director, PwC Australia discussed Australia’s new investment manager regime.

The team writes: "Australia is in the process of finalising its own investment manager regime (IMR) with the aim to reduce tax uncertainty, and disincentives for certain widely held funds seeking to invest in Australia and use Australian intermediaries. Foreign funds that are unable to rely on a tax treaty with Australia have been potentially exposed to Australian tax on gains on Australian investments, and on foreign investments where the use of an Australian intermediary gave rise to a permanent establishment."

Australia’s IMR has been introduced in three parts through a series of announcements, consultations, draft legislation and enacted law. The PwC team explains that the final tranche (or Element 3) of the IMR was released as an exposure draft legislation on 4 April 2013.

"Broadly, these new rules will operate retrospectively from the 2012 income year. The legislation provides an exemption from Australian income tax available for certain widely held foreign funds on portfolio (and in certain cases some non-portfolio) investments, and limits the exemption to......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Opalesque Exclusive: Ex-Citi trader launches 'sleep-at-night’ long/short equity fund[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: After working at Citi's proprietary trading desk, managing a large portfolio between 2008 and 2011, Joel S. Salomon founded SalaurMor Management in New Yor

  2. Investing - U.S. investors favor currency hedged Europe ETFs as euro tumbles, Quants win back investors as Swiss franc fuels volatility gains, David Einhorn's $7bn hedge fund is loading up on this stock, Hedge fund BlueMountain Capital unveils Ocwen Financial short, claims default on notes[more]

    U.S. investors favor currency hedged Europe ETFs as euro tumbles From Reuters.com: U.S. investors stung by the falling euro who want to stay invested in Europe are turning to exchange-traded funds designed to strip out the impact of the region's currency. The biggest among so-called "cur

  3. News Briefs - Millennials use tech tools to jump into investing, Winklevoss twins to launch bitcoin exchange with FDIC insured deposits, Robertson’s legacy from hedge funds to New Zealand, Real estate managers exploring smaller open-end funds[more]

    Millennials use tech tools to jump into investing It is the Facebookification of monetary investing. From social networking platforms that enable young investors to stick to every other's stock-picking mojo, to internet sites for initially-timers hungry for a piece of the Silicon Valley

  4. Update: Prosecutors seek 12 years for hedge fund manager Francisco Illarramendi[more]

    Komfie Manalo, Opalesque Asia: Federal prosecutors have asked the court to sentence convicted hedge fund manager Francisco Illarramendi to 12 years imprisonment for running an elaborate Ponzi scheme that bilked investors hundreds of millions in dollars, including a Venezuelan pension fund, report

  5. Institutions - Ontario pension fund leader calls all asset classes ‘expensive’, Taiwan's BLF plans $2bn in alternative mandates[more]

    Ontario pension fund leader calls all asset classes ‘expensive’ From WSJ.com: The head of one of the world’s largest pension funds said that across asset classes, “everything is expensive.” Ron Mock, who leads Canada’s $141 billion Ontario Teachers’ Pension Plan, said that the plan would