Section OE 5 — Income Tax Act 2007: Treatment of attributed CFC income and FIF income in this subpart

OE 5 Treatment of attributed CFC income and FIF income in this subpart For the purposes of applying this subpart to a person, other than a company, with an attributing interest in a foreign investment fund (FIF),— (a) FIF income derived from the person's interest is treated as attributed CFC income if the FIF income is calculated— (i) under the attributable FIF income method: (ii) under a method to which section EX 50(6) or EX 58 (which relate to the calculation of FIF income) applies; and (b) the FIF is treated as a CFC; and (c) the interest in the FIF is treated as an income interest. Defined in this Act: attributable FIF income method , attributing interest , CFC , company , FIF , FIF income , foreign investment fund , income interest Section OE 5: replaced, on 1 July 2012 (applying for income years beginning on or after that date), by section 103(1) of the Taxation (International Investment and Remedial Matters) Act 2012 (2012 No 34).