INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
(a) the taxpayer has an associate-inclusive control interest in the company of not less than 50%; or
(b) both the following subparagraphs apply:
(i) the taxpayer has an associate-inclusive control interest in the company of not less than 40%;
(ii) the company is not controlled by a group of entities other than a group consisting of or including the taxpayer or any of the taxpayer's associates; or
(c) the taxpayer controls the company, either alone or together with an associate or associates. 160ZZRN(2) ``Associate'', ``entity'' and ``group''.
The expressions ``associate'' , ``entity'' and ``group'' have the same respective meanings as in Part X.160ZZRN(3) ``Associate-inclusive control interest''.
Subject to the modifications in subsection (4), whether a taxpayer has an associate-inclusive control interest of not less than 50%, or not less than 40%, in a company is to be determined by applying Division 3 of Part X.160ZZRN(4) Modifications of applied provisions.
(a) that Division 3 of Part X applies for the purpose of determining the associate-inclusive control interests in a company whether or not in the capacity of trustee;
The expression ``company'' in Part X does not include a company in the capacity of trustee.
(b) that the purpose of making the determination is one of the purposes for which subsection 349(4) is to be applied;
(c) that subsections 350(6) and (7) and 355(1) do not apply;
(d) that the reference in subsection 352(2) to a CFE is a reference to:
(i) a company of which the taxpayer or an associate is a controller; or
(ii) a partnership; or
(iii) a trust;
(e) that references in section 354 to a CFP are references to any partnership;
(f) that references in section 355 to a CFT are references to any trust.