Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 820.423F

    For the purposes of this Subdivision, in determining whether an entity is an * Australian entity (including for the purposes of determining whether another entity is a * foreign entity) at a particular time:

  (a)   for the purposes of paragraph   336(a) of the Income Tax Assessment Act 1936 , treat a partnership as being an Australian entity if, at that time, a * direct participation interest of 50% or more is held in the partnership by one or more of the following:

  (i)   an Australian resident;

  (ii)   an * Australian trust; and

  (b)   disregard section   337 of that Act.