Legislation Submitted to Australian Parliament to Address Issues with Stapled Structures and Managed Investment Trusts and to Address Black Economy

On 20 September 2018, draft bills were submitted to the Australian Parliament to address tax integrity concerns of stapled structures and managed investment trusts (MIT), as well as black economy issues. The summaries of the different schedules of the draft bills are as follows:

Treasury Laws Amendment (Making Sure Foreign Investors Pay Their Fair Share of Tax in Australia and Other Measures) Bill 2018

Non-concessional MIT income

Schedules 1 and 5 amend the ITAA 1997, the ITAA 1936 and…