How Is a Managed Investment Scheme Taxed?
A managed investment scheme or managed fund is a type of collective investment vehicle such as public unit trust. In such a trust, investors hand over money or other assets to a professional manager who manages the total funds to produce a return that is shared by investors. As members of the scheme, investors hold units in the trust that represent a proportional benefit as an entitlement to the trust assets. Managed investment schemes cover a variety of investments, including cash management trusts, property trusts and timeshare schemes. However, they do not encompass regulated superannuation funds, ADFs or term deposits. …
Some people find the idea of “being their own boss” to be more attractive than working for an established company. Small business owners do this by opening a restaurant or boutique, but some choose to pursue real estate as a way of building wealth. But with the recent economic downturn, what happens to investment property if the owner has to file for bankruptcy? Can a debtor keep rental property if they are going through bankruptcy?