Australian Capital Territory Current Acts

PAYROLL TAX ACT 2011 - SECT 73

    (1)     An entity and a corporation form part of a group if the entity has a controlling interest in the corporation.

Note     Section 79 (Exclusion of people from groups) allows the commissioner to exclude people from a group in certain circumstances.

    (2)     For this section, an entity has a controlling interest in a corporation if the corporation has share capital and—

        (a)     the entity has a direct interest in the corporation and the value of the direct interest exceeds 50%; or

        (b)     the entity has an indirect interest in the corporation and the value of the indirect interest exceeds 50%; or

        (c)     the entity has an aggregate interest in the corporation and the value of the aggregate interest exceeds 50%.

    (3)     Division 5.3 (Business groups—tracing of interests in corporations) applies to this section.

Note     Division 5.3 sets out the way of working out if an entity has a direct interest, indirect interest or aggregate interest in a corporation, and the value of the interest.