Income Tax (Managed Investment Trust Transitional) Act 2008 (Cth)

Income Tax (Managed Investment Trust Transitional) Act 2008

No. 30, 2008

An Act to impose income tax on amounts attributable to fund payments derived by foreign residents, and for related purposes

Contents

Income Tax (Managed Investment Trust Transitional) Act 2008

No. 30, 2008

An Act to impose income tax on amounts attributable to fund payments derived by foreign residents, and for related purposes

[Assented to 23 June 2008]

The Parliament of Australia enacts:

1Short title

This Act may be cited as the Income Tax (Managed Investment Trust Transitional) Act 2008.

2Commencement

This Act commences on the day on which it receives the Royal Assent.

3Imposition of tax

The tax known as income tax, to the extent that that tax is payable by an entity in accordance with section 840‑805 of the Income Tax (Transitional Provisions) Act 1997, is imposed on amounts to which that section applies.

4Rate of tax

The rate of income tax imposed by this Act is 22.5%.

[Minister’s second reading speech made in—

House of Representatives on 4 June 2008

Senate on 18 June 2008]

(123/08)