Trusts 2016

MIT tax reform

Source: The Tax Specialist Journal Article

Published Date: 1 Aug 2016


The Tax Laws Amendment (New Tax System for Managed Investment Trusts) Act 2016 and related measures have made extensive amendments to the managed investment trust (MIT) taxation rules, and have introduced a new attribution managed investment trust (AMIT) regime. A trust can elect to enter the AMIT regime provided it satisfies certain criteria. An election is voluntary but, once made, is irrevocable. Entry into the AMIT regime confers certain taxation benefits.

Trustees will need to consider whether the advantages of being an AMIT will make the election worthwhile, as against the effort required to secure entry, such as amending the trust's constitution. Other amendments to the MIT taxation rules are, however, mandatory. This article first looks at the practical implications of the amendments to the current MIT regime and then discusses the pros and cons of entering into the new AMIT regime by comparing the new AMIT regime to the alternative.

Sorry, this is subscriber only content.

To gain access to this material and much more - Subscribe Now.

(Note: Members can access Taxation in Australia journal articles without a Tax Knowledge Exchange subscription - please log in to access).

Already a Subscriber? Login now

Already a Subscriber? Login now


The material is copyright. Apart any fair dealing for the purpose of private study, research criticism or review, as permitted under the copyright Act, no part may be reproduced by any process without written permission from The Tax Institute.

Unless expressly stated, opinions are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.

The Tax Institute
(ABN 45 008 392 372 (PRV14016))


The Tax Institute is a Recognised Tax Agent Association (RTAA) under the Tax Agent Services Regulations 2009. 

Copyright Statement

All materials provided on this site are protected by copyright and are owned by or licensed to TTI.

Except as expressly permitted by TTI or the copyright owner, any person or company who uses this site must not use, reproduce, redistribute, retransmit, publish or otherwise transfer, or commercially exploit, the materials or any information, software or other content, in whole or in part, which is available through this site.


Trusts 2016

Share this page