C Did the fund have an overseas branch or a direct or indirect interest in a foreign trust, controlled foreign entity or transferor trust?
Print X in the appropriate box.
If the answer at C is Yes, complete section B, and any other relevant part, of Schedule 25A 2011. The schedule must be completed, attached to the tax return, and lodged as part of the tax return.
The interests that will require the fund to complete Schedule 25A are those where the fund has:
- an interest in a controlled foreign company or trust, or
- transferred property (at any time), including money or services, to a non-resident trust, or where the fund is able to influence the decisions relating to a non-resident trust.
An interest in a controlled foreign company or trust may be either direct or indirect, and is taken to have the same meaning as set out in Division 3 Part X of the ITAA 1936.
A fund has an interest in a transferor trust if it has ever made, or caused to be made, a transfer of property or services to a non-resident trust. 'Transfer', 'property' and 'services' are defined in section 102AAB of the ITAA 1936. Sections 102AAJ and 102AAK of the ITAA 1936 provide guidance in relation to whether there has been a transfer or deemed transfer of property or services to a non-resident trust.