Part 1 - Are you subject to the CFC measures?

Last updated 4 December 2006

The accruals tax system may apply to you if you are an Australian resident who has a substantial interest in a CFC. This part explains:

when a foreign company is a CFC
the types of interests in a foreign company that are taken into account in testing whether that company is a CFC
the size of an interest in a CFC you need before you must include an amount in your assessable income
how to determine the size of your interest in a CFC
whether income of a CFC is to be included in your assessable income for the current income year.

Summary of part 1
Section 1	Is there a CFC?
Section 2	Are you an attributable taxpayer?
Section 3	Is the CFC's income generally exempt from accruals taxation?
Section 4	What types of attribution can apply?	Dividend attribution on change of residence
Section 5	Do you have to work out the attributable income of a CFC?	Refer to chapter 3 and appendix 3

Section 1 - Is there a CFC?

Section 2 - Are you an attributable taxpayer?

Section 3 - Is the CFC's income generally exempt from accruals taxation?

Section 4 - What types of attribution can apply?

Section 5 - Do you have to work out the attributable income of a CFC?

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