Income Tax Assessment Act 1997



Division 820 - Thin capitalisation rules  

Subdivision 820-H - Control of entities  

Australian controller of a foreign entity

SECTION 820-750   820-750   What is an Australian controller of a controlled foreign company?  

An entity is an Australian controller of a *controlled foreign company mentioned in paragraph 820-745(a) at a particular time if, and only if, at that time:

(a) that entity is an *Australian entity holding a *TC control interest in the controlled foreign company that is 10% or more; or

(b) all of the following subparagraphs apply:

(i) the controlled foreign company is such a company because of paragraph 340(c) of the Income Tax Assessment Act 1936 ;

(ii) not more than 5 Australian entities, including that entity, control that controlled foreign company (either alone or together with *associate entities and whether or not any associate entity is also an Australian entity);

(iii) that entity holds a *TC control interest in the controlled foreign company that is at least 1%.

A corporate limited partnership that is a foreign entity may be a controlled foreign corporate limited partnership, see section 820-760 .


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