MFA-AIMA Submit Joint Letter to Australian Treasury on the Draft Investment Manager Regime (IMR) Legislation

On April 28, MFA and AIMA submitted a joint letter to the Australian Treasury reiterating the Associations’ concerns with the current draft legislation to implement the investment manager regime (IMR).  In particular, MFA and AIMA expressed concern, that, if the legislation were to be enacted in accordance with the January 2014 draft, funds, including hedge funds, will face tax uncertainties which will deter them from appointing an Australian investment manager or making investments in Australia.  MFA and AIMA also included a discussion on what we believe to be the essential elements of an IMR and suggested amendments that could be made to the implementing legislative provisions.