A New Tax System (Goods and Services Tax) Amendment Regulations 2003 (No. 1) (37 of 2003)
Schedule 1 Amendments
[5] Paragraph 48-10.02 (3) (b)
substitute
(b) shares of the company are held in such a way that:
(i) if there is 1 shareholder - the shareholder is a representative of a partner in the partnership; and
(ii) if there is more than 1 shareholder - at least 2 shareholders are representatives of different partners in the partnership.
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