• How do you prove that you meet the requirements?

    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

    If you wish to claim a tax exemption on the basis that a CFC has passed the active income test - see chapter 1 - you must:

    • ensure that the company has kept accounts for the statutory accounting period. These accounts must:
      • be prepared in accordance with commercially accepted accounting principles
      • give a true and fair view of the financial position of the company
       
    • ensure that the CFC will assist by providing accounting and other information which the Tax Office may ask you to supply.
    Last modified: 05 Dec 2006QC 17522