New Tax System for Managed Investment Trusts

Managed investment trusts (MITs) have access to a new tax system, which modernises the tax rules for eligible MITs and increases certainty for investors. Eligible MITs can attribute trust income to beneficiaries on a fair and reasonable basis according to their ownership interests in the MIT. An eligible MIT electing into the system is known as an attribution managed investment trust (AMIT). Among other things, the new tax system introduces provisions relating to amounts that affect the cost base of a member’s interest in the trust.

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