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  • Chapter 3: Exemptions

    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

    To allow the foreign investment fund (FIF) measures to focus on cases that provide the greatest opportunity for deferral of Australian tax, there are a number of exemptions from FIF taxation:

    • attributable taxpayers
    • active business
    • an interest in a foreign bank
    • an interest in a foreign holding company of a foreign bank
    • an interest in a foreign life insurance company
    • an interest in a foreign general insurance company
    • an interest in a foreign company engaged in certain real property activities
    • an interest in foreign trusts
    • an interest of $50,000 or less
    • visitors to Australia
    • employer-sponsored foreign superannuation
    • an interest in a FIF that is trading stock
    • an interest in a multi-industry foreign company
    • underwriting members of Lloyd's
    • a balanced investment portfolio in FIFs
    • an interest in certain FIFs resident in the USA
    • complying superannuation funds
    • certain investments in FIFs that primarily engage in managing funds.
    Last modified: 27 May 2005QC 17512