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End of attention
The FIF legislation refers to an interest that is generally:
- a share in a foreign company
- an interest in the capital or income of a foreign trust, or
- the holding of the legal title of a foreign life assurance policy.
If you, as an Australian resident, personally and directly own foreign investments (not through a company or a trust), the FIF legislation does not cover physical assets such as land, livestock, plant and debt instruments. Other provisions of the income tax law apply to such investments.
Last modified: 27 May 2005QC 17512