Private ruling: What is a company for the purposes of the ITAA 1997?
Published: May 2014

Ruling: Q1: Whether an investment fund will meet the requirements of a 'company' under section 995-1 of the ITAA 1997? | A1: Yes

Relevant facts and circumstances: An investment fund created under certain law in a foreign country, proposes to undertake income producing activities in Australia. The investment fund will be a non-resident of Australia and is prohibited from offering participation in the fund outside of the foreign country. The investment fund will not have a permanent establishment in Australia and its investors are non-residents of Australia. The investment fund is exempt from income tax in the foreign country and is treated as a flow through entity.


Reasons for decision: Summary: The investment fund meets all of the relevant requirements to constitute a 'company' for the purposes of section 995-1 of the ITAA 1997.