INCOME TAX ASSESSMENT ACT 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-90 - CONSOLIDATED GROUPS  

Division 703 - Consolidated groups and their members  

Basic concepts  

SECTION 703-40   Treating entities held through non-fixed trusts as wholly-owned subsidiaries  

703-40(1)  
This section operates to ensure that an entity (the test entity ) is not prevented from being a * subsidiary member of a * consolidated group or * consolidatable group just because there is a trust that is not a * fixed trust interposed between the test entity and the * head company of the group.

703-40(2)  
This Part (except Division 719 ) operates as if the test entity were a * wholly-owned subsidiary of the * head company if the test entity would have been a wholly-owned subsidiary of the head company had the interposed trust been a * fixed trust and all its objects been beneficiaries.


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