Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-95 - VALUE SHIFTING  

Division 727 - Indirect value shifting affecting interests in companies and trusts, and arising from non-arm ' s length dealings  

Subdivision 727-E - Key concepts  

Ultimate controller

SECTION 727-370  

727-370   Preventing double counting for percentage stake tests  

If an interest giving an entity, or an entity and its ^* associates:

(a) the ability to exercise, or control the exercise of, any of the voting power in a company; or

(b) the right to receive dividends that a company may pay; or

(c) the right to receive a distribution of capital of a company; or

(d) the right to receive a distribution of trust income or trust capital;

is both direct and indirect, and (apart from this section) would be counted more than once in applying subsection 727-355(1) or (2) or section 727-360 , only the direct interest is to be counted.