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When do the FIF rules apply?

If you ... and ... then ...

hold interests in FIFs with a total amount of NZ$50,000 or less*



you are an individual investor, or an eligible trust

NO, FIF rules do not apply.

you are any other type of investor

YES, FIF rules apply.

have a shareholding of less than 10% in a foreign company or foreign unit trust or foreign super scheme

it is an attributing interest

YES, the rules apply.

it is not an attributing interest

NO, the rules do not apply.

have a shareholding of 10% or greater in a foreign company or unit trust or foreign super scheme

it is an attributing interest

YES, FIF rules apply.

it is not an attributing interest

NO, FIF rules do not apply.

have a shareholding of 10% or more and come within the CFC rules

you are any type of investor

NO, the FIF rules do not apply, but the CFC rules apply.

* For income years starting on or after 1 July 2011 where your investment does not exceed $50,000 you can elect to use the FIF rules. But you must then use the FIF rules for 4 years.

 


Date published: 19 Jun 2012

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