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The Capital Revenue Debate and the Managed Funds Review

The Tax Specialist | 1 Apr 09
 
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Published on 01 Apr 09 by "THE TAX SPECIALIST" JOURNAL ARTICLE

This article is a reproduction of a paper delivered at the Taxation Institute 2009 Financial Services Conference. The paper has a particular focus on the capital-income debate surrounding Managed Investment Trusts. It concludes that trusts should be considered differently to investment companies. The paper also summarises some of the submissions to the Board of Taxation’s Managed Investment Trust Review. Finally, the paper looks at some aspects of the interplay between that Review and the new TOFA regime.

Author profile

Andrew Mills CTA-Life
Photo of author, Andrew MILLS Andrew Mills, CTA-Life, is Chair of the Financial Reporting Council Australia, Acting Chair of the Board of Tax, Principal Fellow at Melbourne University Law School and a member of the ANU’s Tax and Transfer Policy Institute Advisory Board and the Executive Committee of IFA Australia Branch among other roles. Previously, Andrew was the Second Commissioner, Law Design & Practice, at the Australian Taxation Office from 2013–2019. Andrew has over 40 years’ experience in taxation, including periods in the ATO, commerce and the tax profession. Andrew was a Director (Partner) at Greenwoods & Freehills for more than 20 years and managing director of the firm from 2006 to 2011. Andrew was President of The Tax Institute in 2006–2007 and is a former Governor of the Taxation Research Foundation. Andrew holds qualifications in Business and Law and is a Chartered Taxation Adviser (Life), a Fellow of CPA Australia, a Graduate member of the Australian Institute of Company Directors and a Fellow of the Governance Institute of Australia. - Current at 06 January 2026
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