ATO Issues Release on New Reporting Requirements for Managed Investment Trusts and Increased Withholding Rate
The Australian Taxation Office (ATO) has issued a release on new reporting requirements for managed investment trusts (MIT) under the recently assented (enacted) Treasury Laws Amendment (2019 Measures No. 3) Act 2020, which also provides an increase in the MIT withholding rate on fund payments that are attributable to non-concessional MIT income to 30%. The changes are to address tax integrity…
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