Income Tax Assessment Act 1997

CHAPTER 4 - INTERNATIONAL ASPECTS OF INCOME TAX  

PART 4-5 - GENERAL  

Division 820 - Thin capitalisation rules  

Subdivision 820-H - Control of entities  

Australian controller of a foreign entity

SECTION 820-760   What is an Australian controller of a controlled foreign corporate limited partnership?  

Australian controller of a controlled foreign corporate limited partnership

820-760(1)    
An entity is an Australian controller of a * controlled foreign corporate limited partnership at a particular time if, and only if, at least one of the following paragraphs applies to the entity at that time:

(a) the entity is an * Australian entity that is a * general partner of the partnership;

(b) the entity is an Australian entity holding a * TC control interest in the partnership that is 10 % or more.

Controlled foreign corporate limited partnership

820-760(2)    
A * corporate limited partnership is a controlled foreign corporate limited partnership at a particular time if, and only if, at that time:

(a) it is not an * Australian entity; and

(b) at least one of the following subparagraphs applies to it:

(i) at least one * general partner of the partnership is an * Australian entity or an * Australian controlled foreign entity;

(ii) not more than 5 Australian entities (each of which holds a * TC control interest in the partnership that is at least 1 % ) hold a total of TC control interests in the partnership that is 50 % or more.