Income Tax Assessment Act 1936

PART X - ATTRIBUTION OF INCOME IN RESPECT OF CONTROLLED FOREIGN COMPANIES  

Division 2 - Types of entity  

Subdivision B - Controlled foreign entities (CFEs)  

SECTION 342  

342   CONTROLLED FOREIGN TRUST (CFT)  

A trust is a CFT at a particular time if, at that time, the trust is not an Australian trust and:

(a) there is an eligible transferor in respect of the trust; or

(b) there is a group of 5 or fewer Australian 1% entities the aggregate of whose associate-inclusive control interests in the trust is not less than 50%.