Commonwealth: Income Tax (Managed Investment Trust Transitional) Act 2008 (Cth)

Income Tax (Managed Investment Trust Transitional) Act 2008 No. 30, 2008 An Act to impose income tax on amounts attributable to fund payments derived by foreign residents, and for related purposes Contents 1 Short title 2 Commencement 3 Imposition of tax 4 Rate of tax Income Tax (Managed Investment Trust Transitional) Act 2008 No. 30, 2008 An Act to impose income tax on amounts attributable to fund payments derived by foreign residents, and for related purposes [Assented to 23 June 2008] The Parliament of Australia enacts: 1 Short title This Act may be cited as the Income Tax (Managed Investment Trust Transitional) Act 2008. 2 Commencement This Act commences on the day on which it receives the Royal Assent. 3 Imposition of tax The tax known as income tax, to the extent that that tax is payable by an entity in accordance with section 840‑805 of the Income Tax (Transitional Provisions) Act 1997, is imposed on amounts to which that section applies. 4 Rate of tax The rate of income tax imposed by this Act is 22.5%. [Minister's second reading speech made in— House of Representatives on 4 June 2008 Senate on 18 June 2008] (123/08)