INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART III - LIABILITY TO TAXATION

Division 16G - Debt creation involving non-residents

Subdivision A - Interpretation

SECTION 159GZZA

159GZZA FOREIGN CONTROLLER
For the purposes of this Division, a person is a foreign controller of a company if:

(a) the person is a non-resident or a prescribed dual resident; and

(b) the capital entitlement factor of the person in respect of the company is at least 50%.