Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 719.35

Treating entities held through non - fixed trusts as wholly - owned subsidiaries

  (1)   This section operates to ensure that an entity (the test entity ) is not prevented from being a * wholly - owned subsidiary of a company, just because there is a trust that is not a * fixed trust interposed between the test entity and the company.

  (2)   For the purposes of this Division, in determining whether the test entity is a * wholly - owned subsidiary of the company, assume that the interposed trust is a * fixed trust and all its objects are beneficiaries.


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