Write at D the amount of attributed foreign income from FIFs and FLPs.
The terms FIF and FLP have the same meaning as set out in sections 481 and 482 respectively of Part XI of the ITAA 1936.
Attributed income of a FIF or FLP is the income attributed to the taxpayer from FIFs or FLPs, calculated in accordance with Part XI of the ITAA 1936.
If any attributed income is included at A, B, C or D item 4, complete section B of Schedule 25A, together with any other relevant section or schedule, and lodge them as part of the tax return.
Certain qualifying superannuation entities, fixed trusts and assets of life insurance companies are exempt from the FIF rules for income years beginning on or after 1 July 2003.
Other changes to the FIF rules:
- increase the balanced portfolio FIF exemption for all taxpayers from 5% to 10% for income years beginning on or after 1 July 2003, and
- exclude income from the management of funds from the FIF regime for notional accounting periods of FIFs beginning on or after 1 July 2003.
For more information on the calculation of the amounts to be reported at:
- A, B, or C, see the Foreign income return form guide
- D, see the Foreign investment funds guide.