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End of attention
Generally, an Australian company is related to a foreign company for the purposes of the FTCS when:
- the companies are both group companies, and
- the Australian company has, either directly or indirectly, a voting interest of at least 5% in the foreign company (section 160AFB).
For these purposes, a company is a group company when the Australian parent has a voting interest of at least 10% in the foreign company. If the foreign company has an equivalent interest in a second foreign company, then that second foreign company will also be a group company. This result will continue to apply through any number of tiers of companies.
Last modified: 05 Dec 2006QC 18000