Mon, Sep 25, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

South African proposed regulatory change hits hedge funds

Monday, July 08, 2013

Beverly Chandler, Opalesque London:

Writing in South Africa’s IOL, Bruce Cameron explains that more tax is likely for 'frequent’ switching of collective investments in South Africa.

"You will not be able to switch in and out of collective investment schemes – mainly unit trust funds and exchange traded funds (ETFs) – at will without considering the tax consequences if a proposal published in the Taxation Laws Amendment Bill is adopted" he writes.

The bill also:

  • Proposes a date on which the changes to tax deductions for retirement fund contributions will take effect;
  • Provides for the phasing out of provident funds; and
  • Provides for the removal of the tax deduction for premiums paid on income protection policies.
The IOL piece explains that according to a National Treasury document issued with the Taxation Laws Amendment Bill, which gives effect to the proposals announced in the Budget earlier this year, the "three-year rule" for determining tax will apply to collective investment schemes in the future.

The document also proposes that, from next year, hedge funds be brought within the ambit of the Collective Investment Schemes Control Act and be subject to the same tax regime as collective investment schemes.

"The "three-year rule"......................

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. iCapital Network enters deal to acquire innovative U.S. private equity access fund platform from Deutsche Bank[more]

    Komfie Manalo, Opalesque Asia: Financial technology platform iCapital Network has entered into a definitive purchase agreement to acquire the US Private Equi

  2. Asia - Hedge funds used to love shorting China. Now, not so much, Fledgling China FoFs require careful use: NCSSF, Amac, Japanese banks turn to PE, hedge funds for returns[more]

    Hedge funds used to love shorting China. Now, not so much From Bloomberg.com: A sharp devaluation. A credit crisis. And an economic hard landing. That's what some of the biggest names in the hedge fund industry were predicting for China after the nation's stocks and currency tumbled in 2

  3. Launches - Orchard launches new credit platform, ETN based on hedge fund to launch on the LSE[more]

    Orchard launches new credit platform Orchard Platform has rolled out Deals as a part of its new platform launch. With the addition of Deals to their suite of technology solutions for loan originators and institutional investors, Orchard Platform takes the next step in their evolution. De

  4. Neuberger Berman closes $1.1bn Credit Opportunities Fund[more]

    Neuberger Berman, a private, independent, employee-owned investment manager, announced that NB Private Equity Credit Opportunities Fund LP closed on $1.1 billion of limited partner commitments. The Fund seeks to invest in the secured and unsecured debt of private equity-backed companies, primarily i

  5. Capital Dynamics launches mid-market private credit business[more]

    Capital Dynamics, a global private asset manager, has launched a dedicated Private Credit Asset Management business. Experienced industry executives Jens Ernberg and Thomas Hall have joined Capital Dynamics to co-lead the company's new private credit initiative. They are based in Capital Dynamics' N