This chapter explains the application of the FIF measures to taxpayers who have an interest in a FLP. It explains:
- what a FLP is
- when a taxpayer is considered to have an interest in a FLP
- the period where the interest in the FLP is taxable
- what a 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 a FLP.