The Department of Finance released two sets of draft legislative proposals on 25 July 2012.
The first set of proposals would implement measures announced on 20 July 2011 relating to the taxation of:
| – | specified investment flow-through entities (SIFTs); | |
| – | real estate investment trusts (REITs); and | |
| – | publicly-traded corporations. |
In brief, the SIFT rules, first announced as part of the government's Tax…