Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1936 - SECT 342

Controlled foreign trust (CFT)

    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%.


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