Thu, Jul 2, 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: New systematic strategy managed alongside research firm outperforms S&P500[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: An emerging CTA manager explains how he runs his strategy, which is based on an index produced by a research firm. Peter Turk is head of

  2. Opalesque Exclusive: New systematic strategy embraces machine learning[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: The founder of a New York-based systematic trading firm, which offers a hybrid between alpha strategies and alternative feta at lower fees, describes his approa

  3. Larry Robbins' hedge fund Glenview buys 1m Tenet Healthcare shares[more]

    Komfie Manalo, Opalesque Asia: Glenview Capital Management said it bought an additional 979,482 shares at Tenet Healthcare Corp valued at $53.80 million, raising its stakes in the healthcare services company to 15.16%, reported

  4. Legal - Grayson’s hedge funds under scrutiny for possible ethics violations, Court rejects hedge fund’s motion to block merger of Samsung affiliates[more]

    Grayson’s hedge funds under scrutiny for possible ethics violations From Freebeacon.com: Rep. Alan Grayson is finding himself in hot water over managing hedge funds that bear his name, actions that are in possible violation of House ethics rules. Sitting members of Congress are prohibite

  5. Hedge funds panic over Greece[more]

    Komfie Manalo, Opalesque Asia: Some investors are in panic mode as Greek Prime Minister Alexis Tsipras announced Sunday night that the banks and the stock market would be closed Monday, said

 

banner