Treasury has released a Policy Options Paper ('Options Paper') on two designs for the new regime to tax income passing through trusts. The Options Paper elaborates earlier work, implicitly eliminates one option from ongoing consideration but does not make any definitive recommendations. This Tax Brief analyses the two proposals in the Options Paper and what they suggest the future might look like, especially for those managed investment trusts ('MITs') which will not qualify for the new MIT attribution regime, and for the trusts into which MITs and non-MIT trusts will invest. For our full Tax Brief - click here
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