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EX 27: Anti-avoidance rule: stapled stock
or “Rule for treating foreign company rights linked to NZ company as owned by the NZ company”
You could also call this:

“Explains what counts as a foreign investment fund”

A foreign investment fund (FIF) is something you can invest money in that’s not based in New Zealand. There are four types of FIFs:

  1. A company from another country.

  2. A retirement savings plan from another country.

  3. An insurance company that provides life insurance. However, if the insurance is offered or bought in New Zealand, it’s not a FIF. In that case, the insurance company has to follow New Zealand’s rules for life insurers.

  4. Any organisation listed in part A of schedule 25 of the law.

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Next up: EX 29: Attributing interests in FIFs

or “Rules for determining if you have a taxable interest in a foreign investment”
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Part E Timing and quantifying rules
Controlled foreign company and foreign investment fund rules: What is a foreign investment fund?

EX 28Meaning of FIF

  1. A foreign investment fund, or FIF, is any of the following

  2. a foreign company:
    1. a foreign superannuation scheme:
      1. an insurer under a life insurance policy, but not if the policy is offered or entered into in New Zealand (in which case the insurer must comply with the rules for life insurers in relation to the policy):
        1. an entity described in schedule 25, part A (Foreign investment funds).

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          Notes
          • Section EX 28(c): amended (with effect on 2 November 2012), on , by section 52(1) of the Taxation (Annual Rates for 2020–21, Feasibility Expenditure, and Remedial Matters) Act 2021 (2021 No 8).
          • Section EX 28 list of defined terms life insurance rules: repealed (with effect on 2 November 2012), on , by section 52(2) of the Taxation (Annual Rates for 2020–21, Feasibility Expenditure, and Remedial Matters) Act 2021 (2021 No 8).