Income Tax Assessment Act 1936

PART VA - TAX FILE NUMBERS  

Division 4 - Quotation of tax file numbers in connection with certain investments  

SECTION 202DDB   QUOTATION OF TAX FILE NUMBER IN CONNECTION WITH INDIRECTLY HELD INVESTMENT  

202DDB(1)    

If, apart from this section:

(a) either of the following subparagraphs applies:

(i) both of the following conditions are satisfied:

(A) a body corporate (in this section called the interposed entity ) is the investor in relation to an investment (in this section called the secondary investment ) with an investment body (in this section called the secondary investment body );

(B) another person (in this section called the primary investor ) is entitled to receive from the interposed entity all or part of the income from the secondary investment (which right to receive the income or part of the income is in this section called primary investment );

(ii) both of the following conditions are satisfied:

(A) a person (in this section also called the primary investor ) is the investor in relation to an investment (in this section also called the primary investment ) covered by item 4 in the table in subsection 202D(1) , being a deposit of money with a solicitor (in this section also called the interposed entity );

(B) as a result of carrying out the purpose for which that investment was made, the interposed entity is the investor in relation to another investment (in this section also called the secondary investment ) with an investment body (in this section also called the secondary investment body ); and

(b) either:

(i) the secondary investment has a descriptive title which identifies all the primary investors; or

(ii) the conditions set out in the regulations are satisfied;

the following provisions have effect for the purposes of this Part and Subdivision 12-E in Schedule 1 to the Taxation Administration Act 1953 :

(c) the primary investor may quote his or her tax file number under section 202DB to the secondary investment body in connection with the secondary investment as if he or she were the investor in relation to the secondary investment;

(d) if the primary investor quotes his or her tax file number as mentioned in paragraph (c) - the interposed entity is taken to have quoted his or her tax file number to the secondary investment body in connection with the secondary investment;

(e) the interposed entity is not entitled to actually quote his or her tax file number to the secondary investment body in connection with the secondary investment;

(f) the interposed entity is taken not to be an investment body in relation to the primary investment.

202DDB(2)    
If there are 2 or more primary investors in relation to a primary investment, all the primary investors are taken to have quoted their tax file numbers as mentioned in paragraph (1)(c) if, and only if:

(a) all of those primary investors are persons who, for the purposes of this Part, are taken, by section 202EE , to have quoted their tax file numbers under this Division in connection with the primary investment; or

(b) if:

(i) paragraph (a) does not apply; and

(ii) all of those primary investors are covered by any or all of the following categories:

(A) persons who, for the purpose of this Part, are taken, under section 202EE , to have quoted their tax file numbers under this Division in connection with the primary investment;

(B) persons to whom section 202EB applies;

(C) entities mentioned in paragraph 202EC(1)(a) ; and

(iii) all of the following conditions are satisfied in relation to at least one of those primary investors:

(A) the primary investor is covered by sub-subparagraph (ii)(B) or (C);

(B) the primary investor gives to the secondary investment body the information mentioned in subsection 202EB(1) or 202EC (1) as if the primary investor were the investor in relation to the secondary investment;

(C) as a result of the giving of that information, the primary investor would be taken, under section 202EB or 202EC , to have quoted his or her tax file number under this Division in connection with the secondary investment; or

(c) at least one of those primary investors:

(i) has a tax file number; and

(ii) has quoted that number under section 202DB to the secondary investment body in connection with the secondary investment as if he or she were the investor in relation to the secondary investment.