Income Tax (Attribution Managed Investment Trusts

1 Short title

This Act may be cited as the Income Tax (Attribution Managed Investment Trusts—Offsets) Act 2016.

2 Commencement

Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

Note: This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act.

Any information in column 3 of the table is not part of this Act. Information may be inserted in this column, or information in it may be edited, in any published version of this Act.

3 Imposition of tax

Tax payable in accordance with subsection 276-340(2), 276-410(2), 276-425(2) or 276-820(6) of the Income Tax Assessment Act 1997 is imposed.

4 Rate of tax

The rate of tax imposed by this Act is 100%.

[Minister’s second reading speech made in—

House of Representatives on 3 December 2015

Senate on 4 May 2016]

(227/15)

Income Tax (Attribution Managed Investment Trusts—Offsets) Act 2016