January 20, 2012 by Unity Fund Services in News

New exemption for foreign funds announced

The Assistant Treasurer has recently announced a new exemption for foreign funds that use Australian fund managers. The exemption allows income from relevant investments of a foreign fund that is taken to have a permanent establishment in Australia will be exempt from income tax. The change will apply to the

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August 22, 2011 by unityadmin in News

Interim investment management regime and FIN 48 solution for foreign funds announced

On 16 August 2011, the Government released exposure draft legislation seeking to address two key measures relevant to foreign funds and their Australian based intermediaries. The first measure relates to the application of US accounting standard ‘FIN 48′ and US-based fund managers investing in Australia.  Under recent changes to FIN

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March 18, 2011 by Unity Fund Services in News

Last man standing issue and allocation of income on redemption

The Federal Court of Australia has handed down its decision in Colonial First State Investments Limited v Commissioner of Taxation (“Colonial First State case”). This decision considers the tax effect of provisions in the constitution of a unit trust that seeks to allocate part of the taxable income of the

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