Income Tax Assessment Act 1997

CHAPTER 4 - INTERNATIONAL ASPECTS OF INCOME TAX  

PART 4-5 - GENERAL  

Division 880 - Sovereign entities and activities  

Subdivision 880-A - Basic concepts  

Operative provisions

SECTION 880-20   Meaning of sovereign entity group  

880-20(1)    
Each of the following is part of a sovereign entity group :

(a) a body politic of a foreign country (other than a body politic of a part of that foreign country);

(b) a *foreign government agency in relation to that foreign country (other than a foreign government agency in relation to a part of that foreign country);

(c) an entity:

(i) in which an entity covered by paragraph (a) or (b) holds a *total participation interest of 100%; and

(ii) that is not an Australian resident; and

(iii) that is not a resident trust estate for the purposes of Division 6 of Part III of the Income Tax Assessment Act 1936 .

880-20(2)    
Each of the following is part of a sovereign entity group :

(a) a body politic of a part of a foreign country;

(b) a *foreign government agency in relation to that part of that foreign country;

(c) an entity:

(i) in which an entity covered by paragraph (a) or (b) holds a *total participation interest of 100%; and

(ii) that is not an Australian resident; and

(iii) that is not a resident trust estate for the purposes of Division 6 of Part III of the Income Tax Assessment Act 1936 .

880-20(3)    
Each entity that is part of a *sovereign entity group is a member of the group.