Treasury has released a discussion paper on the design and implementation details of proposed reforms to the tax arrangements for managed investment trusts, including a new system of taxation, from 1 July 2011. Interested parties are invited to make a submission on the discussion paper by Monday, 15 November 2010.

A further round of public consultation on exposure draft legislation and associated explanatory materials is planned for later this year. It is expected that legislation will be introduced into the Parliament in the first half of 2011.