The Stobo tax proposals mean fund managers can spend more time on their products and less time on tax issues.
Thursday, November 18th 2004, 8:31PM
by The Landlord
The Stobo report - if implemented – should produce a level playing field for investments.
The issue now is the nature of the grass on that playing field, and where the boundaries.
“It’s tremendous,” Tyndall Investment Management’s Anthony Quirk says. “There’s still a lot of detail to be worked out but it establishes the idea that you can’t favour one industry over the other with tax and that’s something we’ve been trying to fix for years."
The Stobo report notes that at present the different tax treatment between investments pushes investors to different investments and that fund managers spend a lot of time on tax issues.
“At the moment providers have to spend so much time designing their products around tax. That is expensive – you have to get legal opinions and so on.
