Private ruling: Company residency based on where its central management and control is exercised
Date of advice: 14 November 2019
Published: February 2020

Ruling: Q1: Is Company A a resident of Australia for tax purposes pursuant to subsection 6(1) of the Income Tax Assessment Act 1936 (ITAA 1936)? | A1: Yes. | Q2: Is Company A a controlled foreign company (CFC) under section 340 of the ITAA 1936? | A2: No. | Q3: Does Division 320 of the Income Tax Assessment Act 1997 apply to Company A? | A3: No.


Relevant legislative provisions: Income Tax Assessment Act 1997 Division 320 | Income Tax Assessment Act 1997 subsection995-1(1) | Income Tax Assessment Act 1936 subsection 6(1) | Income Tax Assessment Act 1936 section 317 | Income Tax Assessment Act 1936 subsection 320(1) | Income Tax Assessment Act 1936 subsection 332(1) | Income Tax Assessment Act 1936 subsection 332(2) | Income Tax Assessment Act 1936 subsection 333 | Income Tax Assessment Act 1936 subsection 333(1) | Income Tax Assessment Act 1936 section 340 | Income Tax Assessment Act 1936 Regulation 2015 Regulation 19 of Part 8 | Life Insurance Act 1995 (Cth) section 11 | Life Insurance Act 1995 (Cth) section 21

Reasons for decision: Summary: The Commissioner has ruled on each of the questions.