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FSC backs Govt move to encourage infrastructure investment
The Government's move to remove tax disincentives for private investors in infrastructure will make for "more certain investment for superannuation funds", according to Financial Services Council chief executive John Brogden.
Assistant Treasurer Bill Shorten and Minister for Infrastructure Anthony Albanese yesterday announced the release of a discussion paper on the 2011-12 Budget measure to introduce new rules for tax losses that are attributable to designated infrastructure projects.
Brogden welcomed the discussion paper, along with the Government's decision to give Infrastructure Australia the responsibility for creating a 'top down' priority list.
"The Government's decision to give Infrastructure Australia the mandate and resources to review the causes of recently failed infrastructure projects will assist in the development of appropriate risk sharing models for investment," said Brogden.
Shorten said the proposed tax rules would give private investors more flexibility to claim losses, making infrastructure investment more attractive.
The draft paper follows FSC-commissioned research by Ernst & Young that found there were many barriers to infrastructure investment that needed to be removed, including making transactional processes that are transparent and consistent across states.
"The Federal Government can also play a role in developing regulatory and transactional processes that are transparent and consistent across states," Brogden said.
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