Australia to review Collective Investment Vehicles tax 16 July 2010 The Australian government has announced the Terms of Reference for a review by the Board of Taxation into the taxation arrangements that apply to Collective Investment Vehicles (CIVs). The Assistant Treasurer, Senator Nick Sherry, said this is the first ever comprehensive review of all aspects of Collective Investment Vehicles tax treatment. He said that the review would make the sector more efficient and mean that international investors would find investing in Australia an easier proposition. “The design features of Collective Investment Vehicles should be, wherever possible, simple, clear and harmonised,” Senator Sherry added. In Australia, CIVs currently account for around $1.3 trillion in investments and are widely held investment vehicles typically used by long-term portfolio investors for primarily passive investment activities. The Board of Taxation has been asked to complete its review of Collective Investment Vehicles tax by the end of 2011. More information |