Income Tax Assessment Act 1997

CHAPTER 4 - INTERNATIONAL ASPECTS OF INCOME TAX  

PART 4-5 - GENERAL  

Division 842 - Exempt Australian source income and gains of foreign residents  

Subdivision 842-I - Investment manager regime  

IMR widely held entities

SECTION 842-230   Meaning of IMR widely held entity  

842-230(1)  
An IMR widely held entity is any of the following:


(aa) a *widely held entity;


(a) an entity that is covered by paragraph 275-20(4)(a) , (b), (c), (d), (e), (g), (h), (i) or (ia);


(b) (Repealed by No 53 of 2016)


(c) an entity of a kind specified in regulations made for the purposes of this paragraph.

842-230(2)  


An entity is a widely held entity if:


(a) either:


(i) no other entity has a *total participation interest in the entity of 20% or more (see section 842-235 ); or

(ii) there are not 5 or fewer other entities the sum of whose total participation interests in the entity is 50% or more (see section 842-235 ); or


(b) the entity has never satisfied the requirements of paragraph (a), but investment in the entity is being actively marketed with the intention that the entity satisfies the requirements of that paragraph; or


(c) the reason for failing to satisfy the requirements of paragraph (a) relates to the entity ' s activities and investments being wound down.


 

Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited

CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.

The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.