Alternative assets insights: ATO guidance on non-concessional MIT income
Source: Taxation In Australia Journal Article
Published Date: 1 Aug 2019
On 26 June 2019, the Australian Taxation Office issued guidance in the form of a draft law companion ruling LCR 2019/D2 (the draft LCR) on the concept of non-concessional MIT income (NCMI) on which a withholding tax rate of 30% applies to fund payments made by a managed investment trust (MIT) from 1 July 2019, unless transitional rules apply.
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- Published By: Christina Sahyoun, Wei-Ee Cheah, John Scotland
- Published On:1 Aug 2019
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