INCOME TAX ASSESSMENT ACT 1997 - SECT 768.550 Direct voting percentage in a company

INCOME TAX ASSESSMENT ACT 1997 - SECT 768.550

  (1)   An entity's direct voting percentage at a particular time in a company is:

  (a)   if the entity has a voting interest (within the meaning of section   334A of the Income Tax Assessment Act 1936 ) in the foreign company at that time amounting to a percentage of the voting power of the company--that percentage; or

  (b)   otherwise--zero.

  (2)   In applying section   334A of the Income Tax Assessment Act 1936 for the purposes of subsection   (1) of this section, assume that:

  (a)   the entity is a company; and

  (b)   the entity is not the beneficial owner of a * share in the company if a trust or partnership is interposed between the entity and the company.