(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.