The tax office added that it was “fair and reasonable to treat the trust as a managed investment trust”.
Suntec REIT’s managed investment trust in Australia will continue to enjoy a concessionary withholding tax rate at 10% or 15% on distributions for the year ending Dec 31.
The announcement was made by Suntec REIT’s manager, who said, on Sept 3, that it received a “private ruling” from the Australian Tax Office that its inability to meet the requirement was “only temporary and beyond the control” of Suntec REIT (Australia) Trust.
