Commonwealth Numbered Acts

INCOME TAX (MANAGED INVESTMENT TRUST WITHHOLDING TAX) AMENDMENT ACT 2019 (NO. 35, 2019) - SCHEDULE 1

Income Tax (Managed Investment Trust Withholding Tax) Act 2008

1  Section 2A

Insert:

"non-concessional MIT income " has the same meaning as in the Income Tax Assessment Act 1997 .

2  Paragraph 4(1)(a)

Repeal the paragraph, substitute:

                     (a)  if the entity is a resident of an information exchange country:

                              (i)  15% for fund payments (except to the extent mentioned in subparagraph (ii) or (iii)); or

                             (ii)  10% for fund payments, to the extent that they are, or are attributable to, fund payments from a clean building managed investment trust (except to the extent mentioned in subparagraph (iii)); or

                            (iii)  30% for fund payments, to the extent that they are attributable to non-concessional MIT income; or