INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART VI - COLLECTION AND RECOVERY OF TAX  

Division 1AAA - Payment of RPS, PAYE and PPS deductions to Commissioner  

Subdivision B - Large remitters  

SECTION 220AAI   GROUPING OF COMPANIES  

220AAI(1)   [Collection of group companies]  

For the purposes of this Division, a company group consists of any collection of 2 or more companies each of which is a group company in relation to each of the others.

220AAI(2)   [Criteria for group company]  

For the purposes of this section, a company is a group company in relation to another company if:


(a) one of the companies is a 100% subsidiary of the other company; or


(b) each of the companies is a 100% subsidiary of the same third company.

220AAI(3)   [Criteria for 100% subsidiary]  

A company (the subsidiary company ) is a 100% subsidiary of another company (the holding company ) if all the shares in the subsidiary company are beneficially owned by:


(a) the holding company; or


(b) one or more 100% subsidiaries of the holding company; or


(c) the holding company and one or more 100% subsidiaries of the holding company.

220AAI(4)   [Company other than subsidiary]  

A company (other than the subsidiary company) is a 100% subsidiary of the holding company if, and only if:


(a) it is a 100% subsidiary of the holding company; or


(b) it is a 100% subsidiary of a 100% subsidiary of the holding company;

because of any other application or applications of this section.


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