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End of attention
An interest in a FIF that is a foreign trust is:
- an interest in the capital or income of the trust - including a unit in a unit trust, or
- a legal document that confers an entitlement to acquire such an interest including an entitlement arising from an option or convertible note. [subsection 483(2)]
Eligible finance share
A share in a company is an eligible finance share if:
- the shareholder is an Australian financial institution or subsidiary
- the share was issued by the company in the ordinary course of business carried on by the shareholder, and
- the shareholder is not an associate of the company.
Section 327 of the ITAA 1936 has more detail.
Last modified: 27 May 2005QC 17512