Meaning of TC control interest
(1) The thin capitalisation control interest (or TC control interest ) that an entity holds in a company, trust or partnership at a particular time is the total of the following interests:
(a) the * TC direct control interest (if any) held by the entity in the company, trust or partnership at that time;
(b) the * TC indirect control interest (if any) held by the entity in the company, trust or partnership at that time;
(c) the TC direct control interests (if any) held by the entity's * associate entities in the company, trust or partnership at that time;
(d) the TC indirect control interests (if any) held by the entity's associate entities in the company, trust or partnership at that time.
This section has effect subject to sections 820 - 820 to 820 - 835 (which set out special rules to avoid double counting).
Note: For the rules about a TC direct control interest, see sections 820 - 855 to 820 - 865. For the rules about a TC indirect control interest, see sections 820 - 870 to 820 - 875.
(2) This section does not apply to an * associate entity of the entity if:
(a) the associate entity is a * foreign entity and the associate entity is such an associate entity only because of subsection 820 - 905(3A); or
(b) the associate entity is such an associate entity only
because of subsection 820 - 905(3B).