Income Tax Assessment Act 1997
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Hide history noteSECTION 820-610 Choice not to be outward investing entity (ADI) or inward investing entity (ADI) 820-610(1)
This section applies if: (a) apart from this section, the *head company or single company would, under section 820-609 , be an *outward investing entity (ADI) or an *inward investing entity (ADI) for the trial period; and (b) at all times in the trial period, each of the following entities that is an *ADI is a *specialist credit card institution:
(i) the head company or single company;
(ii) an establishment entity whose *Australian permanent establishments the head company or single company has chosen under section 820-597 or 820-599 to have treated as part of the company for the period.
820-610(2)
The *head company or single company is an outward investing financial entity (non-ADI) for the trial period if: (a) apart from this section, the company would, under section 820-609 , be an *outward investing entity (ADI) for the trial period; and (b) the company chooses, before lodging its *income tax return for the income year including the trial period, to be an outward investing financial entity (non-ADI) for that period.
820-610(3)
The *head company or single company is an inward investing financial entity (non-ADI) and an inward investment vehicle (financial) for the trial period if: (a) apart from this section, the company would, under section 820-609 , be an *inward investing entity (ADI) for the trial period; and (b) the company chooses, before lodging its *income tax return for the income year including the trial period, to be an inward investing financial entity (non-ADI) and an inward investment vehicle (financial) for that period.
820-610(4)
This section has effect despite sections 820-85 , 820-185 and 820-609 .
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