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Media Release 2129/10/2008

Review of the Tax Arrangements Applying to Managed Investment Trusts

The Chairman of the Board of Taxation, Mr Dick Warburton, today announced the release of a discussion paper on the Board’s review of the tax arrangements applying to managed investment trusts.

The Assistant Treasurer and Minister for Competition Policy & Consumer Affairs has asked the Board of Taxation to conduct a review of the tax arrangements applying to managed investment trusts, and provide a final report to him by the middle of 2009. The purpose of the review is to provide options for introducing a specific tax regime for managed investment trusts to reduce complexity, increase certainty and minimise compliance costs.

The Board has developed this discussion paper to facilitate stakeholder consultation. In developing the paper the Board has conducted targeted consultations with key stakeholders.

The Board welcomes submissions on issues raised in the discussion paper. The closing date for submissions is 19 December 2008. Submissions may be sent to:

Email: taxboard@treasury.gov.au

Fax: (02) 6263 4471

Post:

Managed Investment Trusts Review
The Board of Taxation
c/- The Treasury
Langton Crescent
CANBERRA ACT 2600

Copies of the Board’s discussion paper are available from www.taxboard.gov.au. Printed versions of the paper are available by email request sent to taxboard@treasury.gov.au, or by phoning the Board of Taxation Secretariat on (02) 6263 4366.

To assist in the Review process, the Board is planning to conduct consultation forums in Melbourne on 12 November 2008 and in Sydney on 13 November 2008. To register your interest in attending these consultation forums, please contact the Board of Taxation Secretariat on (02) 6263 4366 or email taxboard@treasury.gov.au.