Income Tax Assessment Act 1997
CHAPTER 3
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SPECIALIST LIABILITY RULES
PART 3-90
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CONSOLIDATED GROUPS
This section operates to ensure that an entity (the test entity ) is not prevented from being a * wholly-owned subsidiary of a company, just because there is a trust that is not a * fixed trust interposed between the test entity and the company. 719-35(2)
For the purposes of this Division, in determining whether the test entity is a * wholly-owned subsidiary of the company, assume that the interposed trust is a * fixed trust and all its objects are beneficiaries.
Division 719
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MEC groups
Subdivision 719-B
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MEC groups and their members
Basic concepts
SECTION 719-35
Treating entities held through non-fixed trusts as wholly-owned subsidiaries
719-35(1)
This section operates to ensure that an entity (the test entity ) is not prevented from being a * wholly-owned subsidiary of a company, just because there is a trust that is not a * fixed trust interposed between the test entity and the company. 719-35(2)
For the purposes of this Division, in determining whether the test entity is a * wholly-owned subsidiary of the company, assume that the interposed trust is a * fixed trust and all its objects are beneficiaries.
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