I would like to ask how hedge fund industry works in Australia ?
I asked 2 diffrent tax advisor and they told me that in AU you need to pay:
30% tax as a company/trust
30-49% as a manager of fund
30-49% as a investor who have units
How is that possible that hedge funds in AU have more that 30 bln $, when Singapore has only 25 bln $ and in Singapore there is:
17% tax for company (first 3 years 50% less)
10% tax for fund manager (special incentive)
0% for investor (capital gain tax = 0% in SG)
So these 2 tax advisor are wrong and there is some other way to avoid tax in AU for hedge fund manager/company/investor, or people in Australia really like to pay high taxes. Which one is true ?