The Government has released for public consultation legislation that implements the tax and regulatory components of the CCIV (corporate collective investment vehicle) regime and related explanatory materials.
A CCIV is an investment vehicle with a corporate structure similar to comparable vehicles overseas. A single CCIV can offer multiple products and investment strategies within the same vehicle.
The proposed new law includes:
- the new Chapter 8B in the Corporations Act 2001 containing the core provisions outlining the establishment of CCIVs and their operational and regulatory requirements;
- amendments to other legislation to support the implementation of CCIVs (such as amendments to the Australian Securities and Investments Commission Act 2001 and the Personal Property Securities Act 2009); and
- the tax legislation, which ensures the tax treatment of CCIVs aligns with the existing treatment of attribution managed investment trusts, providing investors with the benefits of flow-through taxation.