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Australia - October 31 2011
The Corporations Act 2001 (Cth) (Corporations Act) permits the responsible entity (RE) of a registered managed investment scheme to unilaterally amend the scheme's constitution if the RE reasonably considers that the change will not adversely affect members' rights.
Australia - June 28 2010
There has been quite some uncertainty during recent months about the likely impact of what has become known as the "new MIT regime" on the private equity and managed funds industry.
Australia - December 18 2009
As foreshadowed in our November 2009 funds bulletin, the Australian Taxation Office (ATO) has released two eagerly anticipated draft tax determinations (draft TDs) dealing with whether a private equity entity can make an income gain from the disposal of the target assets it has acquired (TD 2009/D18), and whether treaty benefits (ie an Australian tax exemption) can be denied in circumstances where a company (which is resident in a country with which Australia has concluded a double tax treaty) is interposed between an Australian investment and an entity which would not be entitled to tax treaty benefits (TD 2009/D17).
Australia - December 11 2009
Since announcing in the 2009-2010 Federal Budget that qualifying Australian Managed Investment Trusts (MITs) would be able to make an irrevocable election to apply the CGT regime as the primary method for taxing certain disposals of assets, there has been a great deal of discussion and much anticipation about the final scope of these rules.
Australia - November 25 2009
There has been considerable press in the last few days associated with the Australian Taxation Office's (ATO) attempt to impose Australian income tax on TPG.
