Released 30 November 2011



A decision to postpone the proposed Managed Investment Trust (MIT) reforms has been welcomed by the Property Council of Australia.     

Treasurer Swan outlined the revised date of July 2013 would allow more time for consultation with stakeholders about how to best implement the elements of the package.

Andrew Mihno, Executive Director of International & Capital Markets for the Property Council said extending the start date for MIT is a smart move.

“Industry and Government now have more time to design a simple and effective MIT regime to transform Australia into a leading funds management hub.”

He said a simple MIT tax regime that promotes investment is critical for Australian property trusts to ensure they can respond quickly to investor demands.