INCOME TAX ASSESSMENT ACT 1997 - SECT 960.560 Meaning of global parent entity

INCOME TAX ASSESSMENT ACT 1997 - SECT 960.560

    A global parent entity is an entity that, according to:

  (a)   * accounting principles; or

  (b)   if accounting principles do not apply in relation to the entity--commercially accepted principles relating to accounting;

is not controlled by another entity.

Note:   A global parent entity may be a single entity that is not a member of a group of entities.