Commonwealth Numbered Regulations

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A NEW TAX SYSTEM (GOODS AND SERVICES TAX) REGULATIONS 2019 (F2019L00417) - REG 70.5.01A

Meaning of closely related

                   An enterprise is closely related to another enterprise if any of the following conditions apply:

                     (a)  both enterprises are carried on by the same entity;

                     (b)  one enterprise is carried on by a 100% subsidiary of the entity that carries on the other enterprise;

                     (c)  both enterprises are carried on by 100% subsidiaries of the same entity.


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