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This test measures the interests in Australian resident public unit trusts, FIFs and FLPs of you and your associates.
If the total of these interests is $A50,000 or less, your share of the net income of the resident public unit trust will not include any amount included in the net income of the trust under the FIF measures because of the FIF interests held by the trust.
If the interests are more than $50,000 under both tests, you do not qualify for the exemption. The example above sets out how the exemption applies. [subsection 96A(2)].
Last modified: 27 May 2005QC 17512