New Managed Investment Trust Tax Regime
10 May 2010
The long-awaited Report by the Board of Taxation into the taxation of Managed Investment Trust ('MITs') was released by the Assistant Treasurer on 7 May 2010, together with the Government's response. While some aspects of the proposals may be considered far-reaching, it is probably more accurate to describe the recommendations, and the Government's responses, as evolutionary rather than revolutionary. In many respects, the Government has decided to adopt and endorse current practices within the MIT sector and provide a framework to allow the sector to grow.
This Tax Brief examines the Board's report, the Government's responses and the next steps on the path to implementing these important proposals. For our full Tax Brief - click here