Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 832.205

Meaning of Division 832 control group

  (1)   Two or more entities are in the same Division   832 control group if any of the following apply:

  (a)   each of the entities is a member of a group of entities that are consolidated for accounting purposes as a single group;

  (b)   one of the entities holds a * total participation interest of 50% or more in each of the other entities;

  (c)   a third entity holds a total participation interest of 50% or more in each of the entities.

  (1A)   If a trust is in a Division   832 control group as a result of the operation of subsection   (1), then the trustee of the trust is in the same Division   832 control group .

  (2)   For the purposes of subsection   (1), in determining a * direct participation interest of one entity in another entity, disregard paragraph   350(1)(b) of the Income Tax Assessment Act 1936 (rights of shareholders to vote or participate in certain decision - making).


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