INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
This Division also modifies how the ownership tests are applied to the head company if another listed public company (the
interposed company
) meets the conditions in subsections (2) and (3).
Note:
For the ownership tests: see sections 160ZNSH , 160ZNSI and 160ZNSJ .
160ZNSN(2) [Interposition]The interposed company must be interposed between the head company and persons (none of them companies) who:
(a) control (or are able to control) voting power in the head company indirectly through the interposed company; or
(b) have the right to receive, for their own benefit and indirectly through the interposed company, any dividends the head company may pay; or
(c) have the right to receive, for their own benefit and indirectly through the interposed company, any distributions of capital of the head company. 160ZNSN(3) [Required shareholdings]
The interposed company must have:
(a) voting shareholdings of less than 1%; or
(b) dividend shareholdings of less than 1%; or
(c) capital shareholdings of less than 1%.
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