- Dated 2/7/2012 – GST Update
On 29 May 2012, amendments to the GST financial services regulations were released, including wide ranging new regulations relating to the reduced input tax credit treatment of supplies acquired by managed investment schemes and superannuation funds. The new rules apply from 1 July 2012.
The amendment regulations introduce a new item 32 of GST regulation 70-5.02(2) under which supplies acquired by a ‘recognised trust scheme’ on or after 1 July 2012 will be eligible for a 55% reduced input tax credit (RITC). Certain specified services will remain eligible for the 75% RITC.
- Dated 22/2/2012 – Weekly Unit Pricing
The Trust has now moved to weekly Unit pricing. Please note that management fees applicable under the Product Disclosure Statement (dated 22 February 2012, page 15) will now also be calculated weekly, and paid by the Trust at the end of each month.