S 483 repealed by No 114 of 2010, s 3 and Sch 1 item 37, applicable in relation to the 2010-11 year of income for a taxpayer and later years of income. For saving provisions, see note under Part
heading. S 483 formerly read:
SECTION 483 WHAT IS AN INTEREST IN A FIF OR A FLP
An interest in a FIF that is a foreign company is:
a share in the company other than an eligible finance share within the meaning of section
an option, convertible note, or other instrument, that confers an entitlement to acquire such a share.
An interest in a FIF that is a foreign trust is:
an interest in the corpus or income of the trust (including, in the case of a unit trust, an interest constituted by a unit in the unit trust); or
an option, convertible note, or other instrument, that confers an entitlement to acquire an interest referred to in paragraph (a).
A person has an interest in a FLP if the person has the legal title to the FLP and, if only one person has the legal title to the FLP, a reference in this Part to the person
s interest or interests in the FLP is taken to be a reference to the FLP.
S 483 inserted by No 190 of 1992.