New South Wales Consolidated Acts
[Index]
[Table]
[Search]
[Search this Act]
[Notes]
[Noteup]
[Previous]
[Next]
[Download]
[History]
[Help]
PAYROLL TAX ACT 2007 - SECT 78
Aggregation of interests
78 Aggregation of interests
(1) An entity has an
"aggregate interest" in a corporation if- (a) the entity has a direct interest
and one or more indirect interests in the corporation, or
(b) the entity has
more than one indirect interest in the corporation.
(2) The value of the
aggregate interest of an entity in a corporation is the sum of the following-
(a) the value of the direct interest (if any) of the entity in the
corporation,
(b) the value of each indirect interest of the entity in the
corporation.
(3) For example- (a) an entity has a direct interest (with a
value of 40%) in corporation B,
(b) the entity also has a direct interest
(with a value of 25%) in corporation A, which in turn has a direct interest
(with a value of 60%) in corporation B. Accordingly, the entity also has an
indirect interest in corporation B with a value of 15% (that is, 25% × 60%),
(c) the value of the entity’s aggregate interest in corporation B is the sum
of the direct interest (40%) and the indirect interest (15%), which is 55%,
(d) accordingly, in this example, the entity has a controlling interest in
corporation B (within the meaning of section 73 (Groups arising from tracing
of interests in corporations)).
AustLII: Copyright Policy
| Disclaimers
| Privacy Policy
| Feedback