Corporate Collective Investment Vehicle Framework and Other Measures 2021

✦ Plain-English Summary

# Corporate Collective Investment Vehicle Framework and Other Measures Bill 2021

## What it does

This bill creates a new type of investment structure called a Corporate Collective Investment Vehicle (CCIV) — essentially a corporate fund that can manage multiple investment pools under one company. It also makes various tax and superannuation tweaks, including changes to how losses can be carried forward for tax purposes and updates to employee share schemes.

## Why it matters

The CCIV structure is designed to make Australia more competitive for large investment funds, particularly those managing money from overseas. Simpler rules for investment vehicles could potentially reduce costs for fund managers and investors, though the main benefit flows to institutional investors rather than individuals.

## Key details

- **New investment structure**: The CCIV allows a single company to operate separate investment portfolios, each treated independently for tax and regulatory purposes — useful for fund managers handling multiple strategies or client types.

- **Tax loss carry-back extension**: Companies can carry back tax losses to offset profits from previous years (extended from the temporary COVID-era measure), giving businesses more flexibility in managing tax across different financial years.

- **Employee share scheme changes**: The bill removes tax penalties when employees leave their job while holding shares in their employer's scheme, making these schemes more attractive to workers.

Official Description

Amends: the Corporations Act 2001 to establish a corporate collective investment vehicle (CCIV) as a new type of a company limited by shares that is used for funds management; the Income Tax Assessment Act 1997 to: specify the tax treatment for the CCIV regime; make amendments consequential on the commencement of the Commonwealth Registers Act 2020 ; update the list of deductible gift recipients; and remove cessation of employment as a taxing point for employee share scheme interests which are subject to deferred taxation; the International Tax Agreements Act 1953 to clarify that the priority rule is subject to the deeming principle; the Australian Securities and Investments Commission Act 2001 , Personal Property Securities Act 2009 , A New Tax System (Australian Business Number) Act 1999 and Income Tax Assessment Act 1997 to make consequential amendments in relation to the CCIV regime; the Income Tax Assessment Act 1997 and Taxation Administration Act 1953 to enable eligible corporate tax entities to claim a loss carry back tax offset in the 2022-23 financial year; 10 Acts and one determination in the Treasury portfolio to make miscellaneous and technical amendments; and the Superannuation Industry (Supervision) Act 1993 to insert a new covenant that requires trustees of registrable superannuation entities to develop a retirement income strategy for beneficiaries who are retired or are approaching retirement.

Committee Referrals

Senate Economics Legislation Committee; Senate Standing Committee for the Scrutiny of Bills

Full bill PDF →APH page →

Audit History

Introduced

25 Nov 2021

Last updated on APH

10 Apr 2026

Outcome date

22 Feb 2022

Last checked by Crossbench

yesterday

Full text indexed

yesterday

🗳️

No formal division recorded

This bill passed by voice vote — parliament agreed without calling a formal count. A division is only recorded when a member explicitly requests one.

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