• Who needs to keep records?

    Attention

    Warning:

    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

    End of attention

    You must keep records (as set out below) if you are an attributable taxpayer of:

    • a controlled foreign company (CFC), or
    • a non-resident trust estate.

    An attributable taxpayer is a person who:

    • alone, or together with associates, has an interest in a CFC or a controlled foreign trust of at least 10% or
    • is a transferor of a non-resident trust, or
    • is one of the actual controllers of the CFC with an interest of at least 1%.
    Last modified: 05 Dec 2006QC 17522