INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART IIIA - CAPITAL GAINS AND CAPITAL LOSSES  

Division 20 - Changes in majority underlying interests in assets  

Subdivision A - Preliminary  

SECTION 160ZZRRA   WHAT IS A 100% SUBSIDIARY  

160ZZRRA(1)   [Beneficial share ownership]  

A company (the subsidiary company ) is a 100% subsidiary of another company (the holding company ) if all the shares in the subsidiary company are beneficially owned by:


(a) the holding company; or


(b) one or more 100% subsidiaries of the holding company; or


(c) the holding company and one or more 100% subsidiaries of the holding company.

160ZZRRA(2)   [Where person may affect rights]  

However, the subsidiary company is not a 100% subsidiary of the holding company if a person is in a position to affect rights, in relation to the subsidiary company, of:


(a) the holding company; or


(b) a 100% subsidiary of the holding company.

160ZZRRA(3)   [Future time]  

The subsidiary company is also not a 100% subsidiary of the holding company if at some future time a person will be in a position to affect rights as described in subsection (2).

160ZZRRA(4)   [When a 100% subsidiary]  

A company (other than the subsidiary company) is a 100% subsidiary of the holding company if, and only if:


(a) it is a 100% subsidiary of the holding company; or


(b) it is a 100% subsidiary of a 100% subsidiary of the holding company;

because of any other application or applications of this section.


 

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.