New Tax System for Managed Investment Trusts - Exposure Draft
On 9 April 2015 the government released Tax Laws Amendment (New Tax System for Managed Investment Trusts) Bill 2015 as an Exposure Draft (the AMIT Regime ED) for public consultation. The proposed start date for the AMIT regime is 1 July 2015, however it is expected that this will be on an elective basis, with a compulsory start date of 1 July 2016.
This edition of Tax Insights provides a high level summary of the AMIT Regime ED to assist you in considering the impacts of the AMIT Regime ED on your current and future funds. It also details various proposed trustee taxation provisions which are part of the AMIT Regime, and outlines the proposed categories of income and offsets for which calculations will be required.