The FIF measures will apply to you if you are a beneficiary of or have an interest in a foreign or non-resident trust.
A trust is a foreign trust if it is not:
- an Australian trust [sections 481 and 473]
- a public trading trust which is also a resident unit trust [sections 102G, 102H, 102J, 473 and 481]
- a corporate unit trust which is also a resident unit trust [sections 102J, 102H, 473 and 481]
- an Australian superannuation fund
- a complying approved deposit fund
- a pooled superannuation trust. [sections 267, 470, 477 and 481]
A trust is an Australian trust if the trustee was a resident, or the central management and control of the trust was in Australia, for 12 months preceding the end of your income year. [sections 473, 481 and 485]