The Federal Government has announced changes to the proposed tax of managed investment fund, with the alteration being considered in Parliament in the coming days.

 

The Government first proposed the 15 per cent withholding tax for managed investment trusts in the 2012-13 Budget. The Government defended the announcement, describing it as a move towards the international norm.

 

However, the proposed tax has proven unpopular, with the Federal Opposition slammed the move as a tax grab.