The Treasury is seeking submissions on the draft Attribution Managed Investment Trusts (AMIT) Technical Amendments Bill and explanatory materials. The draft Bill proposes a package of technical amendments to ensure that the new tax system for Managed Investment Trusts (MITs) operates as intended.

In a press statement, Minister for Revenue and Financial Services Kelly O’Dwyer said the Australian Government is committed to setting an appropriate legislative framework for what is the largest managed funds industry in our region.

“The amendments will clarify the law, providing industry with increased investment certainty and should assist those entities considering whether to opt into the attribution MITs regime,” Minister O’Dwyer said.

The consultation will be closing by Monday 16 July 2018.

The exposure draft legislation and explanatory materials are available on the Treasury website.

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