Property Council welcomes Government’s Corporate Collective Investment Vehicle consultation
The Property Council welcomes the Government’s commitment to increasing the competitiveness of Australia’s managed funds industry, with the release today of revised draft legislation on the corporate collective investment vehicle (CIVs) framework.
“Australia’s property funds management sector delivers world-class projects that benefit our cities and the economy, while delivering long-term stable financial benefits for investors,” said Belinda Ngo, Executive Director, Capital Markets.
Corporate CIVs are common investment vehicles used internationally, while Australian fund managers have historically relied upon trust vehicles.
“We welcome the Government’s commitment to enhance flexibility and choice for Australian fund managers with the introduction of the Corporate CIV regime, and aligning this with the robust and successful managed investment trust framework.”
“The revised draft legislation takes on board industry feedback from earlier consultations and importantly seeks to alleviate risks of double taxation for investors.”
“We will review the draft legislation to ensure the proposal will be attractive for all types of passive assets and for both domestic and international investors.”
“Australia’s ability to continue to attract capital investment will be vital to our COVID-economic recovery, and all policy levers should be geared towards setting Australia up for success”.
: Richard Lindsay | M
0422 022 746 | E [email protected]