Treasury Laws Amendment (Making Sure Foreign Investors Pay Their Fair Share of Tax in Australia and Other Measures) Act 2019 (34 of 2019)

Schedule 1   Non-concessional MIT income

Part 1   Main amendments

Taxation Administration Act 1953

8   Paragraph 12-390(6)(a) in Schedule 1

Repeal the paragraph, substitute:

(a) if the recipient 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 (see section 12-435); or