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Daily Tax Report: International

Australia’s Fund Managers Push Lower Tax Rates to Lure Investors

Jan. 28, 2019, 10:40 PM

Fund managers are pushing Australia to lower withholding tax rates and soften the rules for a proposed investment vehicle they hope could help the country attract foreign investment and become more competitive.

The proposed Collective Corporate Investment Vehicle proposed by Australia’s Treasury is a passive fund styled after Luxembourg’s collective investment vehicle known as a SICAV. The fund is designed to attract foreign investors who could greatly expand Australia’s current $2 trillion funds industry.

The government is seeking comments by Feb. 28 on draft rules that determine how CCIVs are regulated and taxed.

But the industry says a lot of...

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