The Finance Minister announced on 1 February 2008 that the government will halve the withholding tax rate applicable to certain payments to non-residents from Australian managed investment funds. The reduced rate of 15% is expected to apply from 1 July 2008.
At present, certain distributions to non-residents from Australian "managed investment trusts" and intermediaries are subject to a flat withholding tax at the rate of 30% regardless of the identity of the r…