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ARTICLE · 18 JANUARY 2012

Federal Government endorses Investment Manager Regime (IMR)

Hall & Wilcox
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Federal Government announced the final element of the Investment Manager Regime as proposed by the Board of Taxation.

AustraliaStrategy
Andrew O'Bryan
Andrew O'Bryan
Andrew Carter
Andrew Carter
Keith James
Keith James
Michael Parker
Michael Parker
Mark Payne
Mark Payne

On 16 December 2011 the Federal Government announced the final element of the new Investment Manager Regime (IMR), as proposed by the Board of Taxation. 

These announcements complement and extend the concessions previously announced throughout 2011 that seek to position Australia as a financial services hub for managing the Asia-Pacific region's wealth by removing tax uncertainties.  See our Update of 14 September 2011.

The exposure draft legislation released on 16 August 2011 prevented a foreign fund from having a permanent establishment in Australia simply because it used an Australian fund manager.  However, it didn't address the issue of whether the income had an Australian source.

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