Tax implications for investing in Futures fund

[Alpine Dragon]

Regarding offshore Managed Futures and Managed Forex funds investments, does anyone know what the general tax rules for these are? Say if I invest in a fund such as MacQuarie's Global Futures fund, do I get taxed (on realised gains) only when I actually sell the investment? In essence are they treated like any other managed fund or are there special tax rules for these types of funds?

Thanks for any clarification.

[CJ]

Should be the same as any other managed fund. If it is Macquarie, it is probably based in Austrlia so they are paying CGT as well as income tax.

YOu will also need to consider how the proposed overseas tax rules affect it as it might not be the best investment decision advice (note: tax is one of a number of factors that should be considered)

[CJ]

If tax resident in cook islands, they would be caught by both the current and the proposed rules wouldn't they.