INCOME TAX ASSESSMENT ACT 1997 - SECT 768.15 Participation test--minimum 10% participation

INCOME TAX ASSESSMENT ACT 1997 - SECT 768.15

    An entity satisfies the participation test in this section in relation to another entity at a time if, at that time, the sum of the following is at least 10%:

  (a)   the * direct participation interest the entity would have in the other entity if rights on winding - up were disregarded;

  (b)   the * indirect participation interest the entity would have in the other entity if:

  (i)   rights on winding - up were disregarded; and

  (ii)   section   960 - 185 only applied to intermediate entities that are not * corporate tax entities.

Table of sections

768 - 100   Foreign government officials in Australia

768 - 105   Compensation arising out of Second World War

768 - 110   Foreign residents deriving income from certain activities in Australia's exclusive economic zone or on or above Australia's continental shelf