Investment Manager Regime - Element 3 - Exposure Draft Three

A further exposure draft for the third and final element of the Investment Manager Regime ("IMR") has been released.

The exposure draft legislation is designed to remove tax impediments to foreign investment into or through Australia by foreign managed funds. Under this legislation, the gains of qualifying foreign funds from the disposal of certain financial arrangements will be exempt from Australian tax.

This exposure draft follows industry consultation, including submissions received on earlier exposure drafts.