Are you required to keep attribution accounts?



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

End of attention

There is no legal requirement for an attributable taxpayer of a CFC to keep attribution accounts. However, without such accounts you may not be able to justify a claim that dividends paid to you by the CFC out of income attributed to you is non-assessable non-exempt income.

Last modified: 05 Dec 2006QC 17522