Asst Treasurer Senator Nick Sherry spoke today at the AVCJ conference on the importance of PE and VC financing as part of a diverse investment landscape in Australia.

He also spoke of AVCAL's ongoing engagement with Treasury and said in relation to the recent ATO draft determinations affecting the PE and VC industry, "Government is following this issue closely, and has been consulting widely with industry and other stakeholders. I recently sat down with AVCAL for several hours to listen, in considerable detail, to their views. I can say that it was an important and useful discussion for which I am grateful.As a result of this consultation we now have a very good feel for the issues involved. We will consider stakeholder representations and advice from Treasury and the ATO before deciding what action, if any, may be needed in the coming months.

"The Government firmly sees a role for private equity and venture capital in a diverse Australian investment landscape so I hope we can all work together towards just that outcome."

Click on the link below to read the full speech transcript.