INCOME TAX (MANAGED INVESTMENT TRUST WITHHOLDING TAX) ACT 2008
SECTION 4
Rate of tax
4(1)
The rate of income tax imposed by this Act is:
(a) if the entity is a resident of an information exchange country:
(b) otherwise - 30 % .
4(2)
(Repealed by No 185 of 2012)
4(3)
An entity is a resident of an information exchange country if:
(a) the entity is a resident of that country for the purposes of the taxation laws of that country; or
(b) if there are no taxation laws of that country applicable to the entity or the entity ' s residency status cannot be determined under those laws:
The rate of income tax imposed by this Act is:
(a) if the entity is a resident of an information exchange country:
(i) 15% for fund payments (except to the extent mentioned in subparagraph (ii) or (iii)); or
(ii) 10% for fund payments, to the extent that they are, or are attributable to, fund payments from a clean building managed investment trust (except to the extent mentioned in subparagraph (iii)); or
(iii) 30% for fund payments, to the extent that they are attributable to non-concessional MIT income; or
(b) otherwise - 30 % .
View history note
Hide history note4(2)
(Repealed by No 185 of 2012)
4(3)
An entity is a resident of an information exchange country if:
(a) the entity is a resident of that country for the purposes of the taxation laws of that country; or
(b) if there are no taxation laws of that country applicable to the entity or the entity ' s residency status cannot be determined under those laws:
(i) for an individual - the individual is ordinarily resident in that country; or
(ii) for another entity - the entity is incorporated or formed in that country and is carrying on a business in that country.
This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.