Regardless of a company's aggregated turnover, if one or more exempt entities have direct control or indirect control of the company (with a relevant control threshold of 50%), then the company is eligible for the 40% non-refundable tax offset only.
If your company is controlled by one or more income tax-exempt entities, print X in the box at the right of Yes and go to Part E item 5 'Non-refundable tax offset'. You do not need to complete items 3 and 4.
If your company is not controlled by one or more income tax exempt entities, print X in the box at the right of No and got to item 2.