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Corporate Collective Investment Vehicle – Tax framework

Key documents

The Government is seeking submissions on the draft Corporate Collective Investment Vehicle (CCIV) Bill and explanatory materials (tax framework). The draft Bill proposes the new tax framework that will give effect to the CCIV. The policy intent of the CCIV is to establish a new form of passive investment vehicle, providing broad alignment with the attribution tax regime for managed investment trusts.

The explanatory materials should be read in conjunction with the draft legislation giving effect to the regulatory framework for the CCIV. The Government consulted on the core features of the regulatory framework in August/September this year. Consultation on the consequenial amendments and any revisions to the core regulatory chapter will occur in due course. Details on the core features of the regulatory framework for the CCIV are on the Treasury website.

Background

The CCIV will allow fund managers to offer investment products using corporate vehicles that are commonly in use overseas. The new CIV will need to meet similar eligibility criteria as managed investment trusts, such as being widely held and engaging in primarily passive investment.

Responding

You can submit responses to this consultation up until 2 February 2018.

Interested parties are invited to comment on this consultation.

While submissions may be lodged electronically or by post, electronic lodgement is preferred. For accessibility reasons, please submit responses sent via email in a Word or RTF format. An additional PDF version may also be submitted.

All information (including name and address details) contained in submissions will be made available to the public on the Treasury website unless you indicate that you would like all or part of your submission to remain in confidence. Automatically generated confidentiality statements in emails do not suffice for this purpose. Respondents who would like part of their submission to remain in confidence should provide this information marked as such in a separate attachment.

Legal requirements, such as those imposed by the Freedom of Information Act 1982, may affect the confidentiality of your submission.

How to respond

Post

Address written submissions to:

David Hawkins
Corporate and International Tax Division
The Treasury
Langton Crescent
PARKES ACT 2600

Enquiries

CIVreform@treasury.gov.auDavid Hawkins, Financial Services Taxation Unit +61 2 6263 1552