INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
This Subdivision also modifies the way in which the head company or the head trust may determine under subsection 160ZZSA(2) the natural persons who, at a test time or the base time, held underlying interests in an asset of the head company or of the head trust if at that time another entity (the interposed entity ) that is a public company or a publicly traded unit trust met the conditions in subsections (2) and (3).
160ZZSL(2) [Interposition]The interposed entity must have been interposed between the head company or head trust and natural persons who held indirectly beneficial interests in the asset or in any income that may be derived from the asset.
160ZZSL(3) [Holdings of less than 1%](a) if the interposed entity was a public company:
(i) capital shareholdings of less than 1%; or
in the interposed public company; or
(ii) dividend shareholdings of less than 1%;
(b) if the interposed entity was a publicly traded unit trust:
(i) capital unitholdings of less than 1%; or
in the interposed publicly traded unit trust.
(ii) income unitholdings of less than 1%;
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