Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 727.370

Preventing double counting for percentage stake tests

                   If an interest giving an entity, or an entity and its * associates:

                     (a)  the ability to exercise, or control the exercise of, any of the voting power in a company; or

                     (b)  the right to receive dividends that a company may pay; or

                     (c)  the right to receive a distribution of capital of a company; or

                     (d)  the right to receive a distribution of trust income or trust capital;

is both direct and indirect, and (apart from this section) would be counted more than once in applying subsection 727-355(1) or (2) or section 727-360, only the direct interest is to be counted.



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