Guide to capital gains tax 2023

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Corporate collective investment vehicle (CCIV) regime

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Reducing the eligibility age for downsizer contributions

Corporate Collective Investment Vehicle (CCIV) regime

From 1 July 2022, a new form of collective investment vehicle is available for funds management activities – a Corporate Collective Investment Vehicle (CCIV) .

From a regulatory perspective, a CCIV is a registered company that comprises one or more sub-funds and is operated by a single corporate director. A sub-fund of a CCIV is all or part of the CCIV's business that is registered as a sub-fund of the CCIV by ASIC. However, the tax framework treats each CCIV sub-fund as a separate fixed unit trust. A CCIV sub-fund is subject to the existing rules for the taxation of trusts.

A CCIV sub-fund trust is treated as an Attribution Managed Investment Trust or AMIT for an income year under the attribution regime in Division 276 of the Income Tax Assessment Act 1997, if it meets certain AMIT eligibility criteria. We call this an 'attribution CCIV sub-fund trust'.

Where this Guide refers to an Attribution Managed Investment Trust or AMIT, the instructions also apply to an attribution CCIV sub-fund trust, unless otherwise stated.

Reducing the eligibility age for downsizer contributions

From 1 July 2022 the eligibility to make downsizer contributions into superannuation has been reduced from 65 to 60 years of age.

From 1 January 2023 the eligibility to make downsizer contributions into superannuation was reduced from 60 to 55 years of age.

For more information, see Downsizer contributions and capital gains tax

References

ATO references:
NO QC 72668