Yesterdays Australian Financial Review (12th of October) carried an article saying that the Macquarie Film Investment Trust was in the last stages of being disbanded. The trust had been involved in a number of poorly performing films, no films that have ever really made any money, with the whole exercise simply not working.
Why did people invest in the first place? They invested, I would suggest, at least in part because of the tax effectiveness of the scheme. However they are now in big strife, looking at a final return of around 10 cents in the dollar.
The moral of the story is to not be blinded by the tax situation of an investment and that, even a financial services company as well regarded as Macquarie does not guarantee success!