NEWS

19 January 2011 – Following the release of the Federal Courts judgment in Colonial First State Investments Limited v Commissioner of Taxation, (“Colonial First State case”) Trustees and investors can gain further understanding around the taxation treatment of trust distributions and the limitations of the trust deed. In the Colonial First State case, the Court…

19 January 2011 – The Assistant Treasurer has announced a new exemption for relevant investment income derived by foreign-based funds investing in Australia via Australian fund managers. The exemption is intended to increase the inflow of foreign funds into Australia and encourage foreign investment through Australian fund managers. The exemption will apply to the 2010-2011…

1 December 2010 – The Australian Tax Office has confirmed its position that the Private Equity investments in particular gains on sale of shares in Australian companies should be taxed on revenue account as opposed to capital for tax purposes, thereby preventing Private Equity firms from distributing their gains and losses to investors subject to…

13 July 2010 – The Board of Everest Financial Group released an ASX announcement advising that they had entered into a binding Implementation Deed with One Investment Group. Entities within One Investment Group expect to assume the Responsible Entity/Trustee and management functions for the majority of Everest Financial Group’s funds within several weeks. One Investment…

02 July 2010 – The Board of Everest Financial Group released an announcement advising that its subsidiary, Everest Capital Limited, has accepted One Investment Group’s unconditional offer to assume the fund management responsibilities currently undertaken by Everest Capital Limited and related entities for a majority of the Everest Financial Group’s Funds under management.

12 May 2010 – As part of the Government’s commitment to positioning Australia as a leading financial services centre, the Government has announced the appointment of the Board of Taxation to undertake a comprehensive review of the taxation of collective investment vehicles (CIV). The details of the review were announced by the Government on 12…