Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-95 - VALUE SHIFTING  

Division 727 - Indirect value shifting affecting interests in companies and trusts, and arising from non-arm ' s length dealings  

Subdivision 727-E - Key concepts  

Ultimate controller

SECTION 727-350   727-350   Ultimate controller  

An entity is an ultimate controller of another entity if, and only if:

(a) the first entity ^* controls (for value shifting purposes) the other entity; and

(b) there is no entity that controls (for value shifting purposes) both the first entity and the other entity.