October 24, 2013 by Unity Fund Services in News

RG240 – hedge fund disclosures – are we there yet?

INTRODUCTION On 3 October 2013 Australian Securities and Investments Commission (ASIC) released final guidance notes which, amongst other things, refined the definition of a ‘hedge fund’ to ensure such disclosure requirements are appropriately targeted at those funds that pose more complex risks to investors. Following extensive consultation with industry since

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August 19, 2013 by Unity Fund Services in News

Further Changes to the Managed Investment Trust Tax Regime – 5 August 2013

On 5 August 2013, the Assistant Treasurer, David Bradbury, announced further changes to the Managed Investment Trust (MIT) tax regime, in response to specific issues raised during the Government’s on-going consultation with the managed funds industry. The proposed changes include: Dealing with Under or Over attribution; and Application of the

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April 16, 2013 by unityadmin in News

Superannuation obligations increase – 1 July 2013

Introduction On 1 July 2013 the Superannuation Guarantee (Administration) Amendment Act 2012 will become effective. The Act passed by the Federal Government in March 2012 results in important changes for employers regarding their superannuation obligations. The Act increases the amount of minimum Superannuation Guarantee (SG) contributions for all employees from

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March 12, 2013 by Unity Fund Services in News

Managed Investment Trusts – Current Amendments – Feb 2013

Overview The Managed Investment Trust (“MIT”) regime is a concessional tax regime that allows eligible Australian funds the following important tax concessions: Concessional withholding tax rates on “fund payments” to foreign investors depending on the residency of the investor; 15% for investors resident in Exchange of Information (“EOI”) countries (see

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January 24, 2013 by Unity Fund Services in News

Foreign Account Tax Compliance Act (“FATCA”) – Final Regulations announced 18 January 2013

In an effort to curb perceived tax abuses by U.S. persons with offshore bank accounts and/or investments, the US Congress passed broad, sweeping legislation intended to combat offshore tax evasion by such persons. Specifically, the Foreign Account Tax Compliance Act (“FATCA”) (signed into law on March 18, 2010) incorporates a

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January 08, 2013 by Unity Fund Services in News

Volcker Rule – why the delays?

After the onset of the financial crisis in 2008, the US government has undertaken a review of certain financial institutions, believing they had developed unsustainably high risk models and regulators had little or unsatisfactory access to look behind the scenes. As part of the financial reform law programme initiated in

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July 26, 2012 by unityadmin in News

What to look for when selecting a fund administrator

In a post Madoff, heavily scrutinised investment era, more investors are requiring independence and more investment managers are searching for the benefits obtained by outsourcing to an appropriately qualified fund administrator. The following article sets out some key criteria for selecting a fund administration partner. Services offered by fund administrators

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June 11, 2012 by unityadmin in News

Changes to Reduced Input Tax Credits (“RITC”)

Effective, 1 July 2012, the GST regulations have been amended (item 32 of GST regulation 70-5.02(2)) as they apply to managed investment schemes. The Reduced Input Tax Credit (“RITC”) of 75% on the GST paid on a fund’s expenses is being further reduced to 55%. There is some relief in

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March 13, 2012 by unityadmin in News

A Brighter Outlook for Emerging Hedge Fund Managers in 2012

According to AIMA in its First Quarter Journal (March 2012), we are seeing some positive momentum change in the outlook for 2012. Reflecting on 2011 and making predictions for 2012, the general consensus seems to be that 2011 was not a great year for hedge funds; in fact it was

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February 24, 2012 by unityadmin in News

France ends short selling ban on French financial securities

Effective 11 February 2012, France has lifted the prohibition on any creation of a net short position and increase of an existing one in relation to French equity securities of the financial sector (as listed below): As a consequence thereof, the prohibition of short sales regarding equity securities and securities

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