Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 820.427E

    For the purposes of this Subdivision, in determining whether an entity is an * Australian 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.

Table of sections

820 - 430   When choice can be made, and what effect it has

820 - 435   Conditions

820 - 440   Revocation of choice

820 - 445   How this Subdivision interacts with Subdivision   820 - FA