AVCAL (Australian Private Equity and Venture Capital Assoc) today called on the Federal government to urgently develop legislation to restore international investor confidence in Australia.

AVCAL’s comments follow the release of draft rulings/determinations from the Australian Tax Office. [TD2009/D17 Income tax: treaty shopping... and TD2009/D18 Income tax: can a private equity entity make an income gain...] The release of these draft rulings /determinations provides an opportunity for the Government to clarify tax policy in relation to these issues.

The full 2009 Year Book can be downloaded here:

http://avcal.com.au/sites/default/files/general-files/AVCAL_Yearbook2009_0.pdf

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