Income Tax Assessment Act 1997



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  

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(b) (Repealed by No 53 of 2016)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.


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.


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