House of Representatives

Second Reading Speech

Mr ROBERT (Fadden-Assistant Treasurer)

I move:

That this bill be now read a second time.

This bill amends the Income Tax (Managed Investment Trust Withholding Tax) Act 2008 to ensure that fund payments that are attributable to non-concessional managed investment trust income will be subject to managed investment trust withholding tax at the top corporate tax rate.

Full details of the measure are contained in the explanatory memorandum.

I commend this bill to the House.

Debate adjourned.