Income Tax Assessment Act 1997
CHAPTER 4
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INTERNATIONAL ASPECTS OF INCOME TAX
PART 4-5
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GENERAL
Division 820
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Thin capitalisation rules
Subdivision 820-H
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Control of entities
Thin capitalisation control interest
SECTION 820-825 Special rules about calculating TC control interests held by a group of entities 820-825(1)
This section applies for the purposes of calculating the total * TC control interests that a group of entities holds in a company, trust or partnership.
820-825(2)
Take into account a particular * TC direct control interest or * TC indirect control interest only once if it would otherwise be counted more than once because the entity holding it is an * associate entity of one or more entities in the group.
820-825(2A)
Subsection (2) does not apply to an * associate entity of one or more entities in the group if:
(a) the associate entity is a * foreign entity and the associate entity is such an associate entity only because of subsection 820-905(3A) ; or
(b) the associate entity is such an associate entity only because of subsection 820-905(3B) .
820-825(3)
Take into account only one of the following things if both of them would otherwise be counted in calculating the total * TC control interests:
(a) the holding of a * TC direct control interest by an entity;
(b) an entitlement to acquire that TC direct control interest.
820-825(4)
The operation of this section in relation to a group of entities does not prevent the operation of section 820-820 in relation to an entity that is a member of that group.
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Hide history noteSECTION 820-825 Special rules about calculating TC control interests held by a group of entities 820-825(1)
This section applies for the purposes of calculating the total * TC control interests that a group of entities holds in a company, trust or partnership.
820-825(2)
Take into account a particular * TC direct control interest or * TC indirect control interest only once if it would otherwise be counted more than once because the entity holding it is an * associate entity of one or more entities in the group.
820-825(2A)
Subsection (2) does not apply to an * associate entity of one or more entities in the group if:
(a) the associate entity is a * foreign entity and the associate entity is such an associate entity only because of subsection 820-905(3A) ; or
(b) the associate entity is such an associate entity only because of subsection 820-905(3B) .
820-825(3)
Take into account only one of the following things if both of them would otherwise be counted in calculating the total * TC control interests:
(a) the holding of a * TC direct control interest by an entity;
(b) an entitlement to acquire that TC direct control interest.
820-825(4)
The operation of this section in relation to a group of entities does not prevent the operation of section 820-820 in relation to an entity that is a member of that group.