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This Resource Library provides you with a range of written resources to help you understand the Antares business and the range of investment funds and SMAs that we manage.

  • New tax rules for managed investment trusts

    In May 2016 the Government passed legislation for the Managed Investment Trusts (MITs) to address uncertainties and impracticalities being experienced by the wider financial services industry when applying outdated trust tax rules to MITs. The new tax rules came into effect from 1 July 2016.

    Key elements of the new tax rules include:

    1. An attribution model to determine how MIT tax components will be allocated to investors
    2. MIT trustees that choose to apply the new rules (“elect in”) will be known as - Attribution Managed Investment Trusts (AMITs)
    3. Enhancements to the CGT rules to allow for upward cost base adjustments

    What the new tax rules means for investors

    After a MIT trustee chooses to apply the new rules and becomes an AMIT, that fund allocates tax components to investors in accordance with the fund’s constitution and disclosure documents. This allocation is called the 'attribution model'. Investors may receive upward cost base adjustments on their investments and funds will have the ability to carry forward understatements and overstatements reducing the need to re-issue investor statements.

    Information for advisers

    Webinar

    In September 2016 we ran a webinar to help you learn about more about the new tax rules and what they mean to you and your clients.

    To watch this recorded webinar  click here.

    Key learning outcomes include:

    • What the new tax rules are about
    • How do the new tax rules affect your investment clients
    • What changes NAB will make to accommodate the new tax rules
    • Support for advisers


    AMIT status - leaderboard

    To keep you updated on MIT trustees that have chosen to apply the new tax rules and become AMITs, we have created a leaderboard
    .

    It provides a list showing the status of whether the fund has elected-in and from what year the fund will become an AMIT.

    If you have questions, please contact your BDM.

  • Overview

    To make it easier for customers to compare different super and investment products, new legal requirements have been introduced for disclosure of fees and costs. This is an industry-wide change for all issuers of super and managed investment products.

    Updated ASIC Regulatory Guide 97 ('RG 97') summarises these new requirements.

    What's changed?

    There are some changes to the amounts and types of fees and costs stated in our disclosure documents and your clients' statements. However, it's important to note that:

    • There are no new fees or costs being charged, so your clients won't pay any more. These are simply changes to how existing fees and costs are disclosed.
    • There's no impact on the after fee and cost performance of your clients' investments. The way we calculate investment performance hasn't changed.

    The key change relates to the disclosure of indirect costs, which are generally the costs of the underlying investments of a super or managed investment product. RG 97 requires these costs to be calculated differently and some new items to be included. Although the actual costs your clients pay won't change, the amount of indirect costs disclosed will generally be higher than what has previously been disclosed.

    For more information about the changes, please refer to the FAQs.

    When did this happen?

    The changes were reflected in updated disclosure documents on 29 September 2017.