The passing of the Corporate Collective Investment Vehicle (CCIV) legislation in Australia represents a milestone development that began 13 years ago with the recommendations of the ‘Johnson Report’ in 2009.
The priority, as those in the world of ‘start-ups’ are well-aware, has been to develop the CCIV to a ‘minimum viable product’ (MVP) rather than seek to perfect it. Practical market needs will determine both the necessity and priority of refinements. Implementation is being undertaken by the Australian Taxation Office (ATO) and a working group has already been created.
The legislation is a triumph of industry consultation and the desire of the Government and Treasury to commence, rather than complete, a major advance in policy execution.
So what’s next for CCIVs?