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31 Oct 08 Review of the tax arrangements applying to Managed Investment Trusts

In a press release issued on 29 October 2008, the Chairman of the Board of Taxation, Mr Dick Warburton, announced the release of a discussion paper on the Board’s review of the tax arrangements applying to managed investment trusts.

The Assistant Treasurer and Minister for Competition Policy & Consumer Affairs has asked the Board of Taxation to conduct a review of the tax arrangements applying to managed investment trusts, and provide a final report to him by the middle of 2009.  The purpose of the review is to provide options for introducing a specific tax regime for managed investment trusts to reduce complexity, increase certainty and minimise compliance costs. The Board has developed this discussion paper to facilitate stakeholder consultation.  In developing the paper the Board has conducted targeted consultations with key stakeholders.

The Board is seeking submissions on issues raised in the discussion paper.  The closing date for submissions is 19 December 2008.  The Taxation Institute is preparing a submission: see item (6) of this edition of TAXVINE.

For a copy of the Board's media release, No 21, 29 October 2008, go here

For a copy of the Board's Discussion Paper, go here

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