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  • Interest in an FLP subject to taxation



    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

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    Your assessable income for an income year includes FIF income if:

    • you had an interest in an FLP at any time during an FLP's notional accounting period that ends in your income year, and
    • you were a resident at any time in that income year. [subsection 485(4)]

    The measures do not apply to an interest in an FLP if you disposed of that interest before 30 June 1993. [subsection 485(5)]

    Last modified: 27 May 2005QC 17512