Income Tax Assessment Act 1936
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Hide history noteSubject to this section, an entity (in this subsection called the lower entity ) holds a control tracing interest in a company at a particular time equal to the direct control interest in the company that the lower entity holds at that time.
353(2) [Entity deemed to hold 100% interest]An entity (in this subsection called the lower entity ) holds a control tracing interest in a company at a particular time equal to 100% if:
(a) the aggregate of the direct control interests in the company held at that time by the lower entity and its associates is not less than 50%; or
(b) both of the following conditions are satisfied:
(i) the aggregate of the direct control interests in the company held at that time by the lower entity and its associates is not less than 40%;
(ii) at that time, the company is not controlled by a group of entities not being or including the lower entity or any of its associates; or
(c) at that time, the company is controlled by the lower entity, either alone or together with associates.
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