INCOME TAX ASSESSMENT ACT 1997 - SECT 820.583 Classification of head company

INCOME TAX ASSESSMENT ACT 1997 - SECT 820.583

Outward investing entity (non - ADI)

  (1)   The * head company of a * consolidated group or of a * MEC group is an outward investing entity (non - ADI) for a period that is all or part of an income year if, and only if, it is:

  (a)   an * outward investor (general) for that period (because of subsection   (2)); or

  (b)   an * outward investor (financial) for that period (because of subsection   (3)).

Outward investor (general)

  (2)   The * head company of a * consolidated group or of a * MEC group is an outward investor (general) for a period that is all or part of an income year if:

  (a)   for that period, the head company satisfies the condition in the second column of item   1 or 3 of the table in subsection   820 - 85(2); and

  (b)   no * member of the group is a * financial entity or * ADI at any time during that period.

Outward investor (financial)

  (3)   The * head company of a * consolidated group or of a * MEC group is an outward investor (financial) for a period that is all or part of an income year if:

  (a)   for that period, the head company satisfies the condition in the second column of item   1 or 3 of the table in subsection   820 - 85(2); and

  (b)   throughout that period, there is at least one * member of the group that is a * financial entity; and

  (c)   no * member of the group is an * ADI at any time during that period.

Inward investing entity (non - ADI)

  (4)   The * head company of a * consolidated group or of a * MEC group is an inward investing entity (non - ADI) for a period that is all or part of an income year if, and only if, it is:

  (a)   an * inward investment vehicle (general) for that period (because of subsection   (5)); or

  (b)   an * inward investment vehicle (financial) for that period (because of subsection   (6)).

Inward investment vehicle (general)

  (5)   The * head company of a * consolidated group or of a * MEC group is an inward investment vehicle (general) for a period that is all or part of an income year if:

  (a)   throughout that period, the head company is a * foreign controlled Australian entity; and

  (b)   no member of the group is a * financial entity or * ADI at any time during that period.

Inward investment vehicle (financial)

  (6)   The * head company of a * consolidated group or of a * MEC group is an inward investment vehicle (financial) for a period that is all or part of an income year if:

  (a)   throughout that period, the head company is a * foreign controlled Australian entity; and

  (b)   throughout that period, there is at least one * member of the group that is a * financial entity; and

  (c)   no member of the group is an * ADI at any time during that period.

Outward investing entity (ADI)

  (7)   The * head company of a * consolidated group or of a * MEC group is an outward investing entity (ADI) for a period that is all or part of an income year if, and only if:

  (a)   apart from Part   3 - 90 (about consolidation of groups) and this Subdivision, at least one * member of the group would be an * outward investing entity (ADI) for that period; or

  (b)   these conditions are met:

  (i)   at least one member of the group would, apart from that Part and this Subdivision, be an * outward investing entity (non - ADI) for that period; and

  (ii)   at least one member of the group is an * ADI throughout that period.