Daily Archives: November 28, 2021

ACNC regulation disallowed in Senate – because it exposed charities to deregistration for lobbying (if it involved civil disobedience)

The Senate has disallowed the Australian Charities and Not-for-profits Commission Amendment (2021 Measures No 2) Regulations 2021 after passing a disallowance motion moved by Senator Rex Patrick on 25 November 2021. This was because the new regulation exposed charities to deregistration, for advocacy – involving civil disobedience, even in pursuit of their charitable objects. The amending Regulations,…

The Bill introducing a ‘corporate’ vehicle for existing AMIT flow through tax – more internationally recognisable than our predominant ‘trust’ structure (minus the other amendments…)

On 25 Nov 2021, the Government introduced the Corporate Collective Investment Vehicle Framework and Other Measures Bill 2021, into the Federal Parliament (the Lower House). Though it would also extend the ‘loss carry back’ provisions; remove a deferred taxing point for ESSs; and insert a ‘Retirement Income Covenant’ for non-SMSF super funds (see related TT article),…

New CCIV Bill also introduces the ‘Retirement Income Covenant’ amendments for non-SMSF Super Funds

On 25 Nov 2021, the Government introduced theCorporate Collective Investment Vehicle Framework and Other Measures Bill 2021, into the Federal Parliament (the Lower House) which includes the long awaited ‘Retirement Income Covenant’ amendments for non-SMSF super funds. These amendments aim to supplement existing trustee investment strategy obligations on the accumulation phase so there are obligations that…

Bill introducing a new ‘Corporate collective investment vehicle’ regime (with flow through tax treatment) and also loss carry back, ESS, retirement income covenant and DGR changes

On 25 Nov 2021, the Government introduced theCorporate Collective Investment Vehicle Framework and Other Measures Bill 2021, into the Federal Parliament (the Lower House). Its centrepiece is a new ‘Corporate Collective Investment Vehicle’ which will have a ‘flow through’ tax regime, piggy backing on the AMIT regime. It will also extend the ‘loss carry back’…