Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 880.20

  (1)   Each of the following is part of a sovereign entity group :

  (a)   a body politic of a foreign country (other than a body politic of a part of that foreign country);

  (b)   a * foreign government agency in relation to that foreign country (other than a foreign government agency in relation to a part of that foreign country);

  (c)   an entity:

  (i)   in which an entity covered by paragraph   (a) or (b) holds a * total participation interest of 100%; and

  (ii)   that is not an Australian resident; and

  (iii)   that is not a resident trust estate for the purposes of Division   6 of Part   III of the Income Tax Assessment Act 1936 .

  (2)   Each of the following is part of a sovereign entity group :

  (a)   a body politic of a part of a foreign country;

  (b)   a * foreign government agency in relation to that part of that foreign country;

  (c)   an entity:

  (i)   in which an entity covered by paragraph   (a) or (b) holds a * total participation interest of 100%; and

  (ii)   that is not an Australian resident; and

  (iii)   that is not a resident trust estate for the purposes of Division   6 of Part   III of the Income Tax Assessment Act 1936 .

  (3)   Each entity that is part of a * sovereign entity group is a member of the group.