New Discussion Paper on Managed Investment Trusts System

The Assistant Treasurer and Minister for Superannuation and Financial Services, the Hon Bill Shorten MP, released on Monday (18th October) a discussion paper on the Government's new income tax system for managed investment trusts (MITs).

MP Shorten stated that:

"This paper is one further step in the Government's plan to overhaul the taxation treatment of MITs and remove uncertainties"

Interested parties are invited to make a submission on the discussion paper by Monday, 15 November 2010.

To view the discussion paper and submit submission click here.

To keep up to date with Income Tax why not inquire about the TimeBase Point-in-time Income Tax Service?