NEWS

With just over a month to the deferred RG97 implementation start date of 30 September 2017, on Friday 25 August 2017, the Australian Securities and Investments Commission (ASIC) announced further change to Class Order [CO 14/1252] (the Class Order) and its implementation. While ASIC has provided guidance on its proposed changes to the Class Order…

Following the Government’s release of the Board of Taxation’s report on tax arrangements applying to collective investment vehicles in 2015, the Government has today released an exposure draft of legislation for the new corporate collective investment vehicle. The new form of corporate collective investment vehicles, to be known as CCIVs, will more closely reflect the…

Following the proposals paper Proposed industry funding model for the Australian Securities and Investment Commission in November 2016 and legislation passing on 15 June 2017, ASIC have today finalised their cost recovery framework releasing Report 535 ASIC cost recovery arrangements: 2017 -18 which provides the methodology for how industry levies will be calculated. The first…

The Department of Immigration and Border Protection (DIBP) is undertaking another review of the complying investment framework that was introduced in July 2015 that applies to Significant Investor Visa (SIV) and Premium Investor Visa (PIV) applicants. Austrade are responsible for the policy settings of the SIV and PIV complying investment framework and they have stated…

Recently ASIC has released its findings in relation to its surveillance of: Responsible Entities operating registered managed investment schemes; and Custodians. ASIC’s findings in respect of its review of Responsible Entities (“REs”) are contained in REPORT 528: Responsible entities’ compliance with obligations: Findings from 2016 proactive surveillance program. ASIC’s findings in respect of its review…

The Hon Alex Hawke, Assistant Minister for Immigration and Border Protection, announced at the Significant Investor Visa Chinese In Australia Seminar held in Sydney today that a review of the program would be undertaken shortly. Feedback would be sort from industry participants to determine what changes might assist the program. Participants at the seminar raised…

The release of Regulatory Guide 259: Risk management systems of responsible entities (RG 259) follows ASIC’s consultation with industry in July 2016 through Consultation Paper 263[1] building on the March 2013 Consultation Paper 204[2]. On 27 March 2017 ASIC released RG 259 which provides guidance for responsible entities (REs) on how to comply with their…

The Australian Taxation Office (ATO) has released Taxpayer Alert TA 2017/1 which highlights the ATO’s concerns with certain stapled structures.  The targeted structures typically involves a trust and a company (that may or may not have been stapled together for legal purposes) that operate in such a way that the trust (which holds the asset, e.g. land, equipment, intellectual property)…

ASIC has announced a delay to the requirement for responsible entities to comply with the new fee and cost disclosure rules applying to PDSs under RG97 and Class Order 14/252. Previously, all PDSs on issue from 1 February 2017 were required to comply with these new rules. This has now been extended to 30 September…

One Investment Group is proud to have sponsored the 22nd Annual Property Funds Industry Forum held on the Sunshine Coast from 16th to 18th of October 2016. The theme of the forum was “A marketplace where entropy reigns supreme”. With 100 delegates representing in excess of 50 organistations, the forum was filled with informative sessions…