INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
View history note
Hide history noteA natural person is taken to hold an indirect beneficial interest in an asset of an entity (other than another natural person) for the purposes of this Division where:
(a) if the entity were to distribute any of its capital; and
(b) in the case where another entity or other entities are interposed between the first-mentioned entity and the person - if the capital were then distributed by the other entity or successively distributed by each of the other entities;
the person would have the right to receive any of the capital for the person's own benefit.
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