Reduced withholding tax for energy efficient buildings re MITs

On 10 October 2012, the Government introduced the Tax Laws Amendment (Clean Building Managed Investment Trust) Bill 2012 that will reduce the fund payment withholding tax rate from 15% to 10% on payments from managed investment trusts (MITs) that hold new energy efficient buildings for which construction began on or after 1 July 2012. The buildings can be hotels, office buildings or shopping centres and the eligible payment must be made to a resident in an information exchange co…