02 Jun 099 Managed Investment Trusts - Capital Account TreatmentOn 1 June 2009 the Government released a discussion paper about proposed changes to the taxation of gains and losses on disposal of certain investments by managed investment trusts. The proposals will allow managed investment trusts to elect to apply CGT treatment to gains and losses on disposal of certain investments. The changes were announced in the 2009-10 Budget, and will take effect from the 2008-09 and later income years. The discussion paper outlines in general terms the key design features and canvasses details and issues that may be relevant to give effect to the measure.
For a copy of the discussion paper go here.
For the Assistant Treasurer's media release announcing the release of the discussion paper go here.