Statute
Section 342 — Income Tax Assessment Act 1936: Controlled foreign trust (CFT)
Text of the provision Official document
A trust is a CFT at a particular time if, at that time, the trust is not an Australian trust and: (a) there is an eligible transferor in respect of the trust; or (b) there is a group of 5 or fewer Australian 1% entities the aggregate of whose associate-inclusive control interests in the trust is not less than 50%.
Official source: Federal Register of Legislation
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