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  • Who do the FIF measures apply to?




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    The FIF measures apply to you for all or part of an income year in which you are an Australian resident. [section 485]

    Even though you are an Australian resident you are not taxed under the FIF measures for an interest in a foreign trust that you dispose of during an income year - that is, before 30 June each income year. See Interests in a FIF or FLP subject to the FIF measures in chapter 2. If you dispose of an interest in a non-resident trust, other areas of the ITAA 1936 may apply. [section 485]

    Last modified: 27 May 2005QC 17512