Foreign investment funds guide (including update)

What is an Interest in a foreign trust?

You will have an interest in a FIF that is a foreign trust if you have:

• an interest in the capital or income of the trust-including a unit in a unit trust, or
• an entitlement to acquire such an interest through an option, convertible note, or other instrument. [SECTIONS 470, 475, 482]

Your entitlement to acquire an interest in the income or capital may be absolute or be contingent on some other event. It may arise through a document of a company or the exercise of a right or option or for any other reason. [SECTION 475]

Sections within Chapter 9: Taxation of non-resident trusts

• Overview
• Who do the FIF measures apply to?
• What is an Interest in a foreign trust?
• Taxpayers exempt from the FIF measures
• Attribution of non-resident trust income under the FIF measures
• Attribution of non-resident trust income where the FIF measures do not apply
• Australian resident beneficiary of a non-resident trust estate under a legal disability
• Non-resident trusts exempt from interest charges
• Deceased estates
• Amounts taxed at comparable rates