Income Tax Assessment Act 1936
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Hide history noteA company (the test company ) is a subsidiary of another company (the holding company ) if at least half of the shares in the test company are beneficially owned by:
(a) the holding company; or
(b) a company that is, or 2 or more companies each of which is, a subsidiary of the holding company; or
(c) the holding company and a company that is, or 2 or more companies each of which is, a subsidiary of the holding company. 121AP(2) [Subsidiary of subsidiary company]
If a company is a subsidiary of another company (including because of this subsection), every company that is a subsidiary of the first-mentioned company is a subsidiary of the other company.
121AP(3) Wholly-owned subsidiary.A company is a wholly-owned subsidiary of another company if it would, under subsection (1) or (2), be a subsidiary of the other company assuming that the reference in subsection (1) to at least half of the shares were instead a reference to all of the shares.
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