Income Tax Assessment Act 1997
View history note
Hide history noteSECTION 820-583 Classification of head company
General class investor
820-583(1)
The * head company of a * consolidated group or of a * MEC group is a general class investor for a period that is all or part of an income year if: (a) for that period, the head company satisfies the requirement in subsection 820-46(2) ; and (b) no * member of the group is a * financial entity or * ADI at any time during that period.
820-583(2)
(Repealed by No 23 of 2024)
Outward investing financial entity (non-ADI)
820-583(3)
The *head company of a *consolidated group or of a *MEC group is an outward investing financial entity (non-ADI) for a period that is all or part of an income year if: (a) for that period, the head company satisfies the condition in the second column of item 1 or 2 of the table in subsection 820-85(2) ; and (b) throughout that period, there is at least one *member of the group that is a *financial entity; and (c) no *member of the group is an *ADI at any time during that period.
Inward investing financial entity (non-ADI)
820-583(4)
The * head company of a * consolidated group or of a * MEC group is an inward investing financial entity (non-ADI) for a period that is all or part of an income year if, and only if, it is an * inward investment vehicle (financial) for that period (because of subsection (6) ).
820-583(5)
(Repealed by No 23 of 2024)
Inward investment vehicle (financial)
820-583(6)
The *head company of a *consolidated group or of a *MEC group is an inward investment vehicle (financial) for a period that is all or part of an income year if: (a) throughout that period, the head company is a *foreign controlled Australian entity; and (b) throughout that period, there is at least one *member of the group that is a *financial entity; and (c) no member of the group is an *ADI at any time during that period.
Outward investing entity (ADI)
820-583(7)
The *head company of a *consolidated group or of a *MEC group is an outward investing entity (ADI) for a period that is all or part of an income year if, and only if: (a) apart from Part 3-90 (about consolidation of groups) and this Subdivision, at least one *member of the group would be an *outward investing entity (ADI) for that period; or (b) these conditions are met:
(i) at least one member of the group would, apart from that Part and this Subdivision, be an *outward investing financial entity (non-ADI) for that period; and
(ii) at least one member of the group is an *ADI throughout that period.
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