A New Tax System (Goods and Services Tax) Regulations 2019
Chapter 4
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The special rules
Part 4-2
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Special rules mainly about supplies and acquisitions
Division 70
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Financial supplies (reduced credit acquisitions)
SECTION 70-5.01A
70-5.01A
Meaning of closely related
An enterprise is closely related to another enterprise if any of the following conditions apply:
(a) both enterprises are carried on by the same entity;
(b) one enterprise is carried on by a 100% subsidiary of the entity that carries on the other enterprise;
(c) both enterprises are carried on by 100% subsidiaries of the same entity.
An enterprise is closely related to another enterprise if any of the following conditions apply:
(a) both enterprises are carried on by the same entity;
(b) one enterprise is carried on by a 100% subsidiary of the entity that carries on the other enterprise;
(c) both enterprises are carried on by 100% subsidiaries of the same entity.
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