• When is a CFC a resident of a limited-exemption listed country?

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    A CFC is treated as a resident of a limited-exemption listed country if:

    • the CFC is not a Part X Australian resident, and
    • the CFC is treated as a resident of the limited-exemption listed country under the tax laws of that country.

    A CFC that is a resident of both a limited-exemption listed country and an unlisted country is treated as a resident of a limited-exemption listed country.

    Last modified: 05 Dec 2006QC 17522