An important reform to financial services, Corporate Collective Investment Vehicle (or CCIV) came into operation on 1 July this year. The CCIV will provide, for the first time, an Australian investment vehicle that combines the corporate legal framework of a company with flow-through tax treatment.

The FSC works closely with the Australian Taxation Office (ATO) on many issues of importance to members.

Now that the Government has determined its key Ministerial appointments and gets underway with implementing its legislative agenda, it’s timely to briefly examine the three key areas of Government focus over the next year when it comes to superannuation.

ASIC released new and updated guidance for corporate collective investment vehicles (CCIVs) on 23 June. The requirements come into effect on 1 July 2022, when the CCIVs regime commences. 

ASIC is conducting a targeted consultation in response to a FSC request for life insurers to be exempt from the design and distribution obligations (DDO) in certain limited situations.  

It’s been just over a month since the 2022 Federal Election, with the new Albanese Government getting off to a quick start. Key Treasury Ministers have been confirmed with Treasurer Jim Chalmers, Minister for Financial Services Stephen Jones and Assistant Minister for Competition, Charities and Treasury Andrew Leigh rounding out the Treasury Benches.