Overview

The Government has released for public consultation two bills that implement the tax and regulatory components of the CCIV regime and their related explanatory materials.

A CCIV is an investment vehicle with a corporate structure, with the additional consumer protection of an independent depositary for retail funds that is responsible for the oversight of certain administrative functions undertaken by the fund. A single CCIV can offer multiple products and investment strategies within the same vehicle.

The proposed new law includes:

  • the new Chapter 8B in the Corporations Act 2001 containing the core provisions outlining the establishment of CCIVs and their operational and regulatory requirements;
  • amendments to other legislation to support the implementation of CCIVs (such as amendments to the Australian Securities and Investments Commission Act 2001 and the Personal Property Securities Act 2009); and
  • the tax legislation, which ensures the tax treatment of CCIVs broadly aligns with the existing treatment of attribution managed investment trusts, providing investors with the benefits of flow-through taxation.