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  • What is a foreign investment fund (FIF)?



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    A FIF is any foreign company or foreign trust. [subsection 481(1)]

    A foreign company is a company that is not resident in Australia, according to the definition of a 'resident of Australia' in subsection 6(1) of the ITAA 1936 and the residency provisions of any relevant double taxation agreement. [subsection 481(2)]

    A trust estate is a foreign trust if it:

    • is not an Australian trust, an Australian superannuation fund, a complying approved deposit fund or a pooled superannuation trust, and
    • did not result from
      • a will, a codicil or a court order that varied or modified a will or a codicil, or
      • intestacy or a court order that varied or modified the application of the law relating to the distribution of the estates of persons who die without leaving a will. [subsection 481(3)]
    Last modified: 04 Feb 2010QC 21777