Part 3-3 inserted by No 46 of 1998.

Div 152 inserted by No 165 of 1999 (as amended by No 173 of 2000).

S 152-50 to 152-80 substituted for s 152-50, 152-55 and 152-60 by No 55 of 2007 , s 3 and Sch 1 item 39, applicable to CGT events happening in the 2006-07 income year or later income years. S 152-55 formerly read:

SECTION 152-55 Meaning of controlling individual   Companies
152-55(1)
An individual is a controlling individual of a company at a time if, at that time, the individual holds the legal and equitable interests in *shares, other than *redeemable shares, that carry (between them) the right to exercise at least 50% of the voting power in the company and receive at least 50% of any *dividend the company may pay and of any distribution of capital the company may make. Trusts
152-55(2)
An individual is a controlling individual of a trust (where entities have entitlements to all the income and capital of the trust) at a time if, at that time, the individual is beneficially entitled to at least 50% of the income and capital of the trust.
152-55(3)
An individual is a controlling individual of a trust (where entities do not have entitlements to all the income and capital of the trust) at a time if, during the income year in which the time occurs:

(a) the trust made a distribution of income or capital, or both; and

(b) the individual was beneficially entitled to at least 50% of the total of the distributions of income made by the trust during the income year; and

(c) the individual was beneficially entitled to at least 50% of the total of the distributions of capital made by the trust during the income year.

S 152-55 inserted by No 165 of 1999 (as amended by No 173 of 2000).