Financial entity
A financial entity is an entity that undertakes financial activities and meets certain statutory or other requirements.
For more information, see subsection 995-1(1) of the ITAA 1997.
Foreign controlled Australian entity
This is an Australian entity:
- in which a group of 5 or fewer foreign entities have at least a 50% thin capitalisation control interest
- in which a single foreign entity has at least a 40% thin capitalisation control interest and no other entity (other than an associate entity of the foreign entity) controls the Australian entity
- that is otherwise controlled by 5 or fewer foreign entities.
For more information, see:
- section 820-780 of the ITAA 1997
- section 820-785 of the ITAA 1997
- section 820-790 of the ITAA 1997
- section 820-795 of the ITAA 1997.
Foreign entity
A foreign entity is an entity that is not an Australian entity.
For more information, see subsection 995-1(1) of the ITAA 1997.