Income Tax Assessment Act 1997
CHAPTER 4
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INTERNATIONAL ASPECTS OF INCOME TAX
An entity satisfies the participation test in this section in relation to another entity at a time if, at that time, the sum of the following is at least 10%:
(a) the *direct participation interest the entity would have in the other entity if rights on winding-up were disregarded;
(b) the *indirect participation interest the entity would have in the other entity if:
PART 4-5
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GENERAL
Division 768
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Foreign non-assessable income and gains
Subdivision 768-A
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Returns on foreign investment
Foreign equity distributions on participation interests
SECTION 768-15
768-15
Participation test
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minimum 10% participation
An entity satisfies the participation test in this section in relation to another entity at a time if, at that time, the sum of the following is at least 10%:
(a) the *direct participation interest the entity would have in the other entity if rights on winding-up were disregarded;
(b) the *indirect participation interest the entity would have in the other entity if:
(i) rights on winding-up were disregarded; and
(ii) section 960-185 only applied to intermediate entities that are not *corporate tax entities.
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