INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART IIIA - CAPITAL GAINS AND CAPITAL LOSSES  

Division 20 - Changes in majority underlying interests in assets  

Subdivision A - Preliminary  

SECTION 160ZZRS  

160ZZRS   INDIRECT BENEFICIAL INTEREST IN ASSET  
A natural person is taken to hold an indirect beneficial interest in an asset of an entity (other than another natural person) for the purposes of this Division where:

(a) if the entity were to distribute any of its capital; and

(b) in the case where another entity or other entities are interposed between the first-mentioned entity and the person - if the capital were then distributed by the other entity or successively distributed by each of the other entities;

the person would have the right to receive any of the capital for the person's own benefit.