From ministers.treasury.gov.au: The Government will amend income tax laws to ensure legitimate investors, particularly foreign pension funds, can continue accessing concessional withholding tax rates through managed investment trusts MITs while preventing misuse.

These amendments clarify that trusts ultimately owned by a single widely-held investor can access MIT concessions and maintain current industry practices.

The changes align with a tax alert from the Australian Taxation Office emphasizing enforcement against non-commercial arrangements designed to improperly benefit from MIT withholding tax advantages.