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Foreign Investment Funds A FIF is a foreign company, foreign superannuation scheme, or life insurance policy offered or entered into outside of New Zealand To be subject to the FIF regime a taxpayer must have a direct income interest in a foreign company that the Income Tax Act does not exempt from the FIF regime. A person has a direct income interest in a foreign company when the person holds any of the shares or shareholder decision-making rights, or has the right to receive any income or assets from the foreign company. A person that has a shareholding in a foreign company has an interest in a FIF and will be required to include income calculated under the FIF regime in the person's taxable income for the income year. Some exemptions to the regime apply.
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