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.

             (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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