Income Tax Assessment Act 1936
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Hide history noteSubject to this section, where a natural person is an associate of a holding company (otherwise than solely because of being the trustee of a trust estate), sections 159GZZZG and 159GZZZH apply (in addition to any application apart from this application of this section) as if references in those sections to:
(a) an eligible entity in relation to the holding company and the subsidiary concerned;
(b) an eligible interest of such an entity; or
(c) the eligible proportion in relation to such an interest;
were references to what would, if the natural person were a holding company in relation to the subsidiary, be respectively:
(d) an eligible entity in relation to the natural person and the subsidiary;
(e) an eligible interest of such an entity; or
(f) the eligible proportion in relation to such an interest. 159GZZZI(2) [Entity or interest not eligible]
For the purposes of applying section 159GZZZG or 159GZZZH in accordance with subsection (1):
(a) any interest of an entity that is an eligible interest for the purposes of the application of that section apart from subsection (1) shall be taken not to be an eligible interest; and
(b) any eligible interest of an eligible entity (including the natural person) held in the actual holding company referred to in subsection (1), or in any eligible entity interposed between the natural person and that holding company, shall be taken not to be an eligible interest.
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