The Australian Taxation Office (ATO) has issued a notice explaining common controlled foreign company (CFC) errors for private groups to watch out for. The ATO has also issued a notice on Getting the CFC provisions right, with links to several related resources.
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Private groups: watch out for common CFC errors
Avoid costly mistakes. Check you're getting controlled foreign company (CFC) disclosures right in these problem areas.
Compliance reviews have revealed a high error rate in pr…