This paper covers:
- the Government's response to the Board Of Taxation's interim recommendations
- why is a specific tax regime and a deemed capital account election necessary?
- defining the scope of a managed investment trust - What vehicles should be covered by a specific tax regime for collective investment vehicles?
- trust as flow through vehicles
- whether the allocation of gains and deductions in accordance with the trust deed may be relied upon for the purposes of allocating taxable income to investors?
- tax treatment of fund expenditure
- how unders and overs should be allocated and taxed
- international issues.