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  • Section 2 - Are you an attributable taxpayer?



    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

    End of attention

    If you have an interest in a CFC you must determine if you are an attributable taxpayer. You are only required to include an amount of attributable income from a CFC in your assessable income if you are an attributable taxpayer in relation to the CFC.

    You will be an attributable taxpayer if:

    • you have an associate-inclusive control interest of 10% or more in a CFC, or
    • all of the following rules apply:  
      • the CFC is a CFC because of the application of the de facto control test
      • you are an Australian 1 per cent entity
      • you are part of a group of five or fewer Australian entities who, alone or with associates - regardless of whether the associates are Australian entities - control the CFC.
    Last modified: 05 Dec 2006QC 18000