A New Tax System (Goods and Services Tax) Regulations 1999 (repealed)

Part 4-2 - Special rules mainly about supplies and acquisitions

Division 70 - Financial supplies (reduced credit acquisitions)

70-5.01A

70-5.01A Definition
In this Division, an enterprise is closely related to another enterprise if any of the following conditions apply:

(a) both enterprises are carried on by the same entity;

(b) one enterprise is carried on by a 100% subsidiary of the entity that carries on the other enterprise;

(c) both enterprises are carried on by 100% subsidiaries of the same entity.