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Edited version of private advice
Authorisation Number: 1052117548066
Date of advice: 16 May 2023
Ruling
Subject: Public company
Question
Will the Commissioner form an opinion under subsection 103A(5) of the Income Tax Assessment Act 1936 (ITAA 1936) that it is reasonable that Company A should be treated as a public company?
Answer
Yes.
This ruling applies for the following period:
1 July 20XX to 30 June 20XX
The scheme commenced on:
1 July 20XX
Relevant facts and circumstances
Company A is a company incorporated in Australia.
The majority of the shares in Company A are owned (through interposed entities) by an entity listed on a stock exchange.
Company A engages in substantial business activities.
Relevant legislative provisions
Income Tax Assessment Act 1936 subsection 103A(1)
Income Tax Assessment Act 1936 subsection 103A(2)
Income Tax Assessment Act 1936 subsection 103A(4)
Income Tax Assessment Act 1936 subsection 103A(4B)
Income Tax Assessment Act 1936 subsection 103A(5)
Reasons for decision
Considering the specific circumstances of Company A, the Commissioner is of the opinion that it is reasonable that Company A should be treated as a public company for the purposes of subsection 103A(1) of the ITAA 1936.
Therefore, Company A will be deemed to be a public company pursuant to subsection 103A(5) of the ITAA 1936.