Who must keep records?



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 are a resident of Australia at any time during an income year and have an interest in a FIF at the end of that year or an interest in a FLP during that year, you must make and keep records in Australia. This includes a foreign branch of an Australian company which has an interest in a FIF or FLP. [SECTIONS 485 and 614]

If you are an attributable taxpayer in respect of a CFC or CFT that holds an interest in a FIF or FLP, you are subject to similar record keeping requirements for the CFC or CFT. [DIVISION 11 of Part X]

Last modified: 08 Jun 2005QC 27386