Investment manager regime

The legislation for the first two elements of the investment manager regime (IMR) received royal assent on 13 September 2012.

The IMR is designed to provide foreign managed funds and their investors with greater certainty regarding the tax treatment of certain income of the foreign fund. The IMR:

• addresses the impact of the application of US accounting rules (FIN 48) on managed funds investing in or through Australia - the 'FIN 48' measure
• excludes from Australian tax, for 2010-11 and later income years, certain income of widely held foreign funds that is taxable only because the fund uses an Australian based agent, manager or service provider - the 'conduit income' measure.

Media releases

• Media release No.054 issued by the Minister of financial services and superannuation on 23 August 2012
• Media release No.035 issued by the Minister of financial services and superannuation on 21 June 2012
• Media release No.168 issued by the Minister of financial services and superannuation on 16 December 2011
• Media release No. 75 issued by the Assistant Treasurer on 10 May 2011
• Media release No. 10 issued by the Assistant Treasurer on 19 January 2011
• Media release No. 27 issued by the Assistant Treasurer on 17 December 2010

Legislation and supporting material

The following legislation received royal assent on 13 September 2012:

• Tax Laws Amendment (Investment Manager Regime) Act 2012
• Explanatory Memorandum

More information For more information, refer to: Board of Tax August 2011 Report - Review of an Investment Manager Regime as it relates to foreign managed funds Board of Tax December 2010 Discussion paper - Review of tax arrangements applying to Collective Investment Vehicles Budget Measures 2011-12.