Charter Hall Retail REIT proposes amended constitution

Company News

by Kathy Skantzos

Charter Hall Retail Management, an entity of Charter Hall Retail REIT (ASX:CQR), is proposing to amend a constitution which would allow a different tax regime to be adopted by the trust.

The amended constitution would allow the trust to be operated as an AMIT (attribution managed investment trust) under the new AMIT Regime.

The company said the change would determine the taxable income of the trust and allocate the taxable income to members on and fair and reasonable basis, and would remove the potential for double taxation.

The Tax Laws Amendment Act of 2016 together with the AMIT Regime became law on 5 May 2016, with the AMIT Regime only recently enacted.

Members would be taxed on allocated taxable income under the new AMIT regime, whereas under the current tax regime, members are subject to taxable income of the trust.

Shares in Charter Hall Retail REIT (ASX:CQR) are trading 0.23 per cent lower to $4.30.