Australian managed investment trusts (MITs) (as defined for tax purposes) are eligible for the following important tax concessions:

1. MIT withholding: that is, a concessional rate of withholding tax applies to 'fund payments' made to foreign investors who are tax resident in a country that has an information exchange agreement with Australia¹; and
2. MIT capital account safe harbour: that is, the MIT may elect to apply the capital gains tax (CGT) provisions as the primary code for taxing gains and losses on the disposal of eligible assets (namely a share in a company, non-share equity, a unit in a unit trust, land - including an interest in land and a right to acquire or dispose of any of these assets)²

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