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07 Apr 11 Assistant Treasurer announces delay in commencement of MIT regime

On 6 April 2011, in an address to the Institute of Chartered Accountants' 2011 National Tax Conference, held in Melbourne, Victoria, the Assistant Treasurer and Minister for Financial Services and Superannuation, Bill Shorten, referred to the two major features of the Government's MIT reforms that have already been legislated (CGT treatment and the reduced rate of final withholding tax of 7.5%) and announced that the remaining features of the Government's MIT reforms (the new taxation system for MITs) will now commence on 1 July 2012, to allow the industry more time to "get ready".


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