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 703-45   Subsidiary members or nominees interposed between the head company and a subsidiary member of a consolidated group or a consolidatable group  

703-45(1)  
This section describes, for the purposes of item 2, column 4 of the table in subsection 703-15(2) , a set of requirements that must be met for an entity (the test entity ) to be a * subsidiary member of a * consolidated group or a * consolidatable group at a particular time (the test time ).

703-45(2)  
At the test time, each of the interposed entities must either:


(a) be a * subsidiary member of the group; or


(b) hold * membership interests in:


(i) the test entity; or

(ii) a subsidiary member of the group interposed between the * head company of the group and the test entity;
only as a nominee of one or more entities each of which is a * member of the group.

 

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