Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-90 - CONSOLIDATED GROUPS  

Division 703 - Consolidated groups and their members  

Basic concepts  

SECTION 703-40   Treating entities held through non-fixed trusts as wholly-owned subsidiaries  

703-40(1)    
This section operates to ensure that an entity (the test entity ) is not prevented from being a ^* subsidiary member of a ^* consolidated group or ^* consolidatable group just because there is a trust that is not a ^* fixed trust interposed between the test entity and the ^* head company of the group.

703-40(2)    
This Part (except Division 719 ) operates as if the test entity were a ^* wholly-owned subsidiary of the ^* head company if the test entity would have been a wholly-owned subsidiary of the head company had the interposed trust been a ^* fixed trust and all its objects been beneficiaries.