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What is an interest in a foreign trust?

Last updated 3 February 2010

You will have an interest in a FIF that is a foreign trust if you have:

  • an interest in the capital or income of the trust - including a unit in a unit trust, or
  • an entitlement to acquire such an interest through an option, convertible note, or other instrument. [sections 470, 475 and 483]

Your entitlement to acquire an interest in the income or capital may be absolute or be contingent on some other event. It may arise through a document of a company or the exercise of a right or option or for any other reason. [section 475]