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This is a Bill, not an Act. For current law, see the Acts databases.
INCOME TAX (MANAGED INVESTMENT TRUST WITHHOLDING TAX) AMENDMENT BILL 2012
2010-2011-2012
The Parliament of the
Commonwealth of Australia
HOUSE OF REPRESENTATIVES
Presented and read a first time
Income Tax (Managed Investment Trust
Withholding Tax) Amendment Bill 2012
No. , 2012
(Treasury)
A Bill for an Act to increase the rate of income tax
on amounts attributable to fund payments derived
by foreign residents, and for related purposes
i Income Tax (Managed Investment Trust Withholding Tax) Amendment Bill 2012 No. ,
2012
Contents
1 Short
title
...........................................................................................
1
2 Commencement
.................................................................................
1
3 Schedule(s)
........................................................................................
2
Schedule 1--Amendments
3
Income Tax (Managed Investment Trust Withholding Tax) Act 2008
3
Income Tax (Managed Investment Trust Withholding Tax) Amendment Bill 2012 No. , 2012
1
A Bill for an Act to increase the rate of income tax
1
on amounts attributable to fund payments derived
2
by foreign residents, and for related purposes
3
The Parliament of Australia enacts:
4
1 Short title
5
This Act may be cited as the Income Tax (Managed Investment
6
Trust Withholding Tax) Amendment Act 2012.
7
2 Commencement
8
This Act commences on the day this Act receives the Royal
9
Assent.
10
2 Income Tax (Managed Investment Trust Withholding Tax) Amendment Bill 2012 No.
, 2012
3 Schedule(s)
1
Each Act that is specified in a Schedule to this Act is amended or
2
repealed as set out in the applicable items in the Schedule
3
concerned, and any other item in a Schedule to this Act has effect
4
according to its terms.
5
6
Amendments Schedule 1
Income Tax (Managed Investment Trust Withholding Tax) Amendment Bill 2012 No. , 2012
3
Schedule 1--Amendments
1
2
Income Tax (Managed Investment Trust Withholding Tax)
3
Act 2008
4
1 Subparagraph 4(1)(a)(ii)
5
Repeal the subparagraph, substitute:
6
(ii) 7.5% for fund payments in relation to later income years
7
starting before 1 July 2012; or
8
(iii) 15% for fund payments in relation to later income years
9
starting on or after 1 July 2012; or
10