This chapter explains the application of the foreign investment fund (FIF) measures to taxpayers that have an interest in an FLP. This chapter explains:
- what an FLP is
- when a taxpayer is considered to have an interest in an FLP
- the period where the interest in the FLP is taxable
- what an FLP's notional accounting period is, and
- the two methods of taxation that are used to determine FIF income in relation to an interest in an FLP.