{"id":"C2008A00030","name":"Income Tax (Managed Investment Trust Transitional) Act 2008","slug":"income-tax-managed-investment-trust-transitional-act-2008","collection":"act","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":"30 of 2008","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":436248,"registerId":"C2008A00030-fast-fetch-1775953496443","compilationNumber":null,"startDate":"2026-04-12","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Income Tax (Managed Investment Trust Transitional) Act 2008","content":"---\nmeta-content-style-type: text/css\nmeta-content-type: application/xhtml+xml; charset=utf-8\n---\n\n?xml version=\"1.0\" encoding=\"utf-8\" standalone=\"no\"?>\n\n![](image.001.png)\n\n \n\n \n\n \n\n \n\n \n\n \n\nIncome Tax (Managed Investment Trust Transitional) Act 2008\n\n \n\nNo. 30, 2008\n\n \n\n \n\n \n\n \n\n \n\nAn Act to impose income tax on amounts attributable to fund payments derived by foreign residents, and for related purposes\n\n \n\n \n\n \n\nContents\n\n1 Short title\n\n2 Commencement\n\n3 Imposition of tax\n\n4 Rate of tax\n\n \n\n![](image.001.png)\n\n \n\n \n\nIncome Tax (Managed Investment Trust Transitional) Act 2008\n\nNo. 30, 2008\n\n \n\n \n\n \n\nAn Act to impose income tax on amounts attributable to fund payments derived by foreign residents, and for related purposes\n\n[Assented to 23 June 2008]\n\nThe Parliament of Australia enacts:\n\n1  Short title\n\n  This Act may be cited as the Income Tax (Managed Investment Trust Transitional) Act 2008.\n\n2  Commencement\n\n  This Act commences on the day on which it receives the Royal Assent.\n\n3  Imposition of tax\n\n  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.\n\n4  Rate of tax\n\n  The rate of income tax imposed by this Act is 22.5%.\n\n \n\n \n\n \n\n[Minister’s second reading speech made in—\n\nHouse of Representatives on 4 June 2008\n\nSenate on 18 June 2008]\n\n(123/08)\n\n \n","sortOrder":0}],"analysis":{"kimi_summary":{"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"This Act remains tightly scoped to its original purpose. It was designed as a narrow, temporary imposition mechanism for a specific transitional tax arrangement affecting foreign MIT investors, and it contains exactly that — no expansion into broader tax bases or unrelated matters."},"complexity_factors":["Extremely short: only 4 operative sections spanning roughly 1 page","No defined terms section — relies entirely on external definitions in the Income Tax (Transitional Provisions) Act 1997","Single cross-reference to section 840-805 of another Act (the operative provision is entirely external)","No conditional logic, exceptions, or nested provisions within the Act itself","Simple flat rate structure (22.5%) with no tiers, thresholds, or calculations required"],"plain_english_summary":"This short, transitional law imposes a flat 22.5% income tax on certain distributions (“fund payments”) from Australian managed investment trusts to foreign residents. It’s a temporary, machinery measure — it doesn’t set out detailed rules but ensures foreign investors in Australian property and infrastructure trusts pay a predictable capped tax rate while broader tax reforms are implemented."},"flash_summary":{"complexity_score":2,"scope_assessment":{"changed":false,"description":"The Act imposes income tax on amounts to which section 840‑805 applies and sets the rate; it does not itself amend or redefine the scope of section 840‑805. Determining any change to substantive coverage requires comparing this Act with prior arrangements in the referenced transitional provision, which this text does not alter or reproduce."},"complexity_factors":["Very short, self-contained instrument with only four sections (low textual complexity).","Direct cross‑reference to section 840‑805 of the Income Tax (Transitional Provisions) Act 1997 — legal effect depends on interpreting that external provision.","Fixed single tax rate (22.5%) simplifies calculation mechanics.","Transitional scope requires mapping to predecessor rules in other legislation (adds practical complexity for administrators and taxpayers).","No procedural, compliance or enforcement detail in the Act itself — administrative obligations are governed elsewhere."],"plain_english_summary":"This Act taxes certain fund payments derived by foreign residents by applying income tax at a fixed rate of 22.5% to amounts covered by section 840‑805 of the Income Tax (Transitional Provisions) Act 1997. It took effect on royal assent. It matters because it makes entities liable for a specified tax on those amounts, affecting managed investment trusts and the returns received by foreign investors, and creates a compliance and collection obligation tied to an external statutory provision."}},"importantCases":[],"_links":{"self":"/api/acts/income-tax-managed-investment-trust-transitional-act-2008","history":"/api/acts/income-tax-managed-investment-trust-transitional-act-2008/history","analysis":"/api/acts/income-tax-managed-investment-trust-transitional-act-2008/analysis","conflicts":"/api/acts/income-tax-managed-investment-trust-transitional-act-2008/conflicts","importantCases":"/api/acts/income-tax-managed-investment-trust-transitional-act-2008/important-cases","documents":"/api/acts/income-tax-managed-investment-trust-transitional-act-2008/documents"}}