Managed Investment Trusts

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Managed Investment Trusts
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INVESTMENTS INTO AUSTRALIA CAN BE MADE THROUGH A
VARIETY OF DIFFERENT STRUCTURES, EACH OF WHICH
HAVE DIFFERENT CONSEQUENCES FOR TAX PURPOSES.
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Under Australian law, an investor could make an
investment directly or through an investment
vehicle including a company, a trust, a joint
venture, a managed investment scheme or a
partnership. The appropriateness of any one of
these methods is dependent on the desired
commercial requirements of a transaction and the
taxation implications that result from each
structure.
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A increasingly popular investment vehicle for
foreign investors into Australia is the managed
investment trust. The key benefit of a managed
investment trust (MIT) is to access the
concessional withholding tax regime. Under the
MIT withholding tax regime, foreign investors who
are a resident of a country with which Australia
has an effective exchange of information on
taxation matters are eligible for a reduced rate
of withholding tax on fund payments from a MIT.
The rate of withholding tax depends on the
residence of the investor.
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There are two critical eligibility requirements
to access the managed investment trust regime
Ownership requirement the trust must satisfy a
widely held ownership requirement and must also
not be closely held under the applicable
tests Investment management requirement a
substantial proportion of the investment
management activities must be carried out in
Australia SMSF Advisory members are considered
the leading provider of trustee, custody and
investment manager services to MITs in Australia.
We are able to assist with both establishing and
maintaining MITs.
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SMSF Adisorys Australian Financial Services
Licensees are authorised to act as Trustee and
investment manager to MITs. The role of the
Trustee includes Responsibility for the
compliance and the governance of the MIT Ongoing
satisfaction of legislative and regulatory
requirements for the MIT Overseeing the
operations and administration of the MIT Holding
title to the MITs assets Operating the MITs
bank accounts
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