Powered by MOMENTUM MEDIA

Managed investment trust reforms passed

By Reporter
 — 1 minute read

The government has successfully passed a package of bills to implement the managed investment trust (MIT) reforms through the Senate.

Commenting on the passing of the bill package, Assistant Treasurer Kelly O'Dwyer said the reforms would "modernise and enhance" the competitiveness of Australia's funds management industry.

"The legislation will provide funds managers and investors with greater tax certainty and flexibility. Members of MITs will be taxed as if they had derived the trust’s income directly," Ms O'Dwyer said.

Advertisement
Advertisement

"This legislative package will reduce complexity and minimise compliance costs for managed investment trusts and their investors.

"Total compliance costs are expected to be reduced by $30 million per year," Ms O’Dwyer said.

Read more:

Budget opens way for deferred lifetime annuities

Capital requirements hit bank profits: KPMG

Clydesdale demerger weighs on NAB result

ASIC finalises Macquarie Equities review

New global head of debt for IFM Investors

 

 

Stimulate new ideas. Stimulate new thinking. Top up your CPD and hear from industry experts with InvestorDaily’s Knowledge Centre. Keep up to date with the latest trends and reforms, all while adding to your CPD. Explore the knowledge centre Knowledge Centre now. 

Managed investment trust reforms passed
investordaily image
ID logo

 

related articles

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.