INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
A company is a prescribed person in relation to another company if:
(a) the first company is a non-resident; or
(b) were the first company to receive a dividend paid by the other company, the dividend would be exempt income of the company for the purposes of this Part. 160APHBF(2) [Trustees]
A trustee is a prescribed person in relation to a company if:
(a) all the beneficiaries in the trust are prescribed persons under other provisions of this section; or
(b) were the trustee to receive a dividend paid by the company, the dividend would be exempt income of the trust estate for the purposes of this Part. 160APHBF(3) [Partnerships]
A partnership is a prescribed person in relation to a company if:
(a) all the partners are prescribed persons under other provisions of this section; or
(b) were the partnership to receive a dividend paid by the company, the dividend would be exempt income of the partnership for the purposes of this Part. 160APHBF(4) [Individual (not trustee)]
An individual (other than a trustee) is a prescribed person in relation to a company if:
(a) he or she is a non-resident; or
(b) were he or she to receive a dividend paid by the company, the dividend would be exempt income of the individual for the purposes of this Part. 160APHBF(5) [Commonwealth, States, Territories etc]
The Commonwealth, each of the States, the Australian Capital Territory, the Northern Territory and Norfolk Island are prescribed persons in relation to any company.
160APHBF(6) [Exempt institutions]An exempt institution whose exempt status is disregarded under subsection 160ARDAB(1) cannot be a prescribed person in relation to a company under this section.
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