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Who do the FIF measures apply to?

Last updated 31 March 2020

The FIF measures apply to you for all or part of an income year in which you are an Australian resident. [section 485]

Even though you are an Australian resident you are not taxed under the FIF measures for an interest in a foreign trust that you dispose of during an income year - that is, before 30 June each income year. See Interests in a FIF or FLP subject to the FIF measures in chapter 2. If you dispose of an interest in a non-resident trust, other areas of the ITAA 1936 may apply. [section 485]