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14 Jul 14 MITs – allowing foreign pension funds access to the withholding tax regime

On 6 November 2013, the Government announced that it would proceed with amendments to the managed investment trust (MIT) withholding tax regime to provide certainty for foreign pension funds.

On 11 July 2014, Treasury released for public consultation an exposure draft of a bill containing proposed amendments to ensure that the foreign pension funds will be able to access the MIT withholding regime and the associated lower rate of withholding tax on their Australian investments as originally intended.

The closing date for submissions is Friday 8 August 2014.

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