Income Tax Assessment Act 1997
SECTION 768-550 Direct voting percentage in a company 768-550(1)
An entity ' s direct voting percentage at a particular time in a company is:
(a) if the entity has a voting interest (within the meaning of section 334A of the Income Tax Assessment Act 1936 ) in the foreign company at that time amounting to a percentage of the voting power of the company - that percentage; or
(b) otherwise - zero.
768-550(2)
In applying section 334A of the Income Tax Assessment Act 1936 for the purposes of subsection (1) of this section, assume that:
(a) the entity is a company; and
(b) the entity is not the beneficial owner of a *share in the company if a trust or partnership is interposed between the entity and the company.
This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.