Managed Investment Trusts: Discussion Paper

The Hon Bill Shorten MP has released a Discussion Paper on the design and implementation details of reforms to the tax arrangements for managed investment trusts (MITs) and invited interested parties to make a submission on the paper by Monday, 15 November 2010. This follows an announcement of 7 May 2010 by the Government that it would introduce reforms to tax arrangements for MITs, including a new system of taxation, from 1 July 2011.

The Discussion Paper can be downloaded at the Federal Treasury’s website (submissions close Monday, 15 November 2010). You can read more about the reforms in an article just posted to Mondaq by Norton Rose.

What do you think of the proposed reforms?

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