Chapter 3: Exemptions

Last updated 7 June 2005

To allow the FIF measures to focus on cases that provide the greatest opportunity for deferral of Australian tax, there are a number of exemptions from FIF taxation.

Exemption for attributable taxpayers

Exemption for active business

Exemption for an interest in a foreign bank

Exemption for an interest in a foreign life insurance company

Exemption for an interest in a foreign general insurance company

Exemption for an interest in foreign trusts

Exemption for an interest of $A50,000 or less

Exemption for visitors to Australia

Exemption for employer-sponsored foreign superannuation

Exemption for an interest in a FIF that is trading stock

Exemption for an interest in a multi-industry foreign company

Exemption for underwriting members of Lloyd's

Exemption for a balanced investment portfolio in FIFs

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