Abacus Storage King Announces MIT Qualification for ASPT

ABACUS STORAGE KING ( (AU:ASK) ) has provided an update.

Abacus Storage King announced that the Abacus Storage Property Trust is expected to qualify as a withholding managed investment trust starting from July 2025. This change will require the trust to withhold tax from distributions to non-residents under the MIT withholding tax regime, impacting distributions paid after June 2025. The change will not affect Australian securityholders and will not materially alter the withholding tax rate for most non-residents, which remains at 30% for non-concessional MIT income. Non-residents are advised to consult their tax advisors regarding the implications of this change, which is independent of any proposals from Ki Corporation Limited and Public Storage.

More about ABACUS STORAGE KING

Abacus Storage King operates in the storage industry, providing storage solutions through Abacus Storage Operations Limited and Abacus Storage Property Trust. The company focuses on managing and operating storage facilities, with a market presence in Australia.

YTD Price Performance: 34.82%

Average Trading Volume: 2,305,844

Technical Sentiment Signal: Sell

Current Market Cap: A$1.98B

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