Subpart EX—Controlled foreign company and foreign investment fund rules

Contents

EX 1Meaning of controlled foreign company
EX 2Four categories for calculating control interests
EX 3Control interest: total of direct, indirect, and associated person interests
EX 4Limits to requirement to include associated person interests
EX 5Direct control interests
EX 6Direct control interests include options and similar rights
EX 7Indirect control interests
EX 8Income interests: total of direct and indirect interests
EX 9Direct income interests
EX 10Indirect income interests
EX 11Options and similar rights in certain cases
EX 12Reduction of total income interests
EX 13Income interests of partners [Repealed]
EX 14Attribution: 10% threshold, not PIE
EX 15Associates and 10% threshold
EX 16Income interests for certain purposes
EX 17Income interest if variations within period
EX 18AScheme for finding person’s attributed CFC income or loss
EX 18Formula for calculating attributed CFC income or loss
EX 19Taxable distribution from non-complying trust
EX 20Reduction in attributed CFC loss
EX 20BAttributable CFC amount
EX 20CNet attributable CFC income or loss
EX 20DAdjustment of cost fraction for excessively debt funded CFC
EX 20ERelative debt-asset ratio for CFC
[Repealed]
EX 21Attributable CFC amount and net attributable CFC income or loss: calculation rules
EX 21BNon-attributing active CFCs
EX 21CApplicable accounting standards for section EX 21E
EX 21DNon-attributing active CFC: default test
EX 21ENon-attributing active CFC: test based on accounting standard
EX 22Non-attributing Australian CFCs
EX 23Tax concession grey list CFCs [Repealed]
EX 24Companies moving to or from New Zealand
EX 25Change of CFC’s balance date
EX 26Use of quarterly measurement
EX 27Anti-avoidance rule: stapled stock
EX 28Meaning of FIF
EX 29Attributing interests in FIFs
EX 30Direct income interests in FIFs
EX 31Exemption for ASX-listed Australian companies
EX 32Exemption for Australian unit trusts with adequate turnover or distributions
EX 33Exemption for Australian regulated superannuation savings
EX 34CFC rules exemption
EX 35Exemption for interest in FIF resident in Australia
EX 36Venture capital company emigrating to grey list country: 10-year exemption
EX 37Grey list company owning New Zealand venture capital company: 10-year exemption
EX 37BShare in grey list company acquired under venture investment agreement
EX 38Exemption for employee share purchase scheme of grey list company
EX 39Terminating exemption for grey list company with numerous New Zealand shareholders [Repealed]
EX 40Foreign exchange control exemption
EX 41Income interest of non-resident or transitional resident
EX 42New resident’s accrued superannuation entitlement exemption [Repealed]
EX 42BInterests in foreign superannuation scheme other than FIF superannuation interests
EX 43Non-resident’s pension or annuity exemption
EX 44Five calculation methods
EX 45Exclusion of amounts of death benefit
EX 46Limits on choice of calculation methods
EX 47Method required for certain non-ordinary shares
EX 48Default calculation method
EX 49Accounting profits method [Repealed]
EX 50Attributable FIF income method
EX 51Comparative value method
EX 52AFair dividend rate method: use of different forms
EX 52Fair dividend rate annual method
EX 53Fair dividend rate periodic method
EX 54Fair dividend rate method and cost method: when periods affected by share reorganisations
EX 55Deemed rate of return method
EX 56Cost method
EX 57Conversion of foreign currency amounts: most methods
EX 58Additional FIF income or loss if CFC owns FIF
EX 59Codes: comparative value method, deemed rate of return method, fair dividend rate method, and cost method
EX 60Top-up FIF income: deemed rate of return method
EX 61Top-up FIF income: 1 April 1993 uplift interests
EX 62Limits on changes of method
EX 63Consequences of changes in method
EX 64Migration of persons holding FIF interests
EX 65Changes in application of FIF exemptions
EX 66Entities emigrating from New Zealand
EX 66BEntities ceasing to be FIFs
EX 67FIF rules first applying to interest on or after 1 April 2007
EX 67BRevaluation of inherited interests in grey list companies
EX 68Measurement of cost
EX 69Change of FIF’s balance date
EX 70Market value of life policy and superannuation entitlements
EX 71Non-market transactions in FIF interests
EX 72Commissioner’s default assessment power
EX 73Election that CFC not non-attributing active CFC or FIF not non-attributing active FIF