09 May 2019 Stapled structures information and forms now available
The Stapled Structures legislation introduces the following measures that apply to any foreign investors who have invested in or through a stapled structure:
- Non-concessional MIT income – specifying the withholding rate on income attributable to non-concessional managed investment trust (MIT) income is 30%
- Thin capitalisation – modified thin capitalisation rules to prevent double-gearing structures
- Superannuation funds for foreign residents withholding tax exemption – limiting the withholding tax exemption for super funds for foreign residents
- Sovereign immunity – limiting the scope of the sovereign immunity tax exemption.
Information about the changes under the Treasury Laws Amendment (Making Sure Foreign Investors Pay Their Fair Share of Tax in Australia and Other Measures) Act 2019(Stapled Structures legislation) is now available, along with relevant forms here.