Document ID: chunk:federal_register_of_legislation:C2004C00958:clause:1_2:p7
Version: federal_register_of_legislation:C2004C00958
Segment Type: clause
Provision Reference: sch 1 cl 2 (pt 7/9)
Character Range: 537841–540604

interposed between the entity and the ultimate owners who have underlying interests in the asset.

Table of sections

Special tracing rules for certain companies and publicly traded unit trusts

149‑150 When certain funds, companies or government bodies are taken to have rights to capital, dividends or other income
149‑155 Limits on tracing through interposed fund or body

[This is the end of the Guide.]

Special tracing rules for certain companies and publicly traded unit trusts

149‑150  When certain funds, companies or government bodies are taken to have rights to capital, dividends or other income

 (1) If the entity (the head entity) is a company covered by paragraph 149‑50(1)(a), (e) or (f) or a *publicly traded unit trust, and the conditions in this section are met, this Subdivision modifies how it may determine under section 149‑55 the *ultimate owners who had *underlying interests in the asset at a particular time.

 (2) An entity of any of these kinds (the interposed fund or body):

 (a) a *superannuation fund;

 (b) an *approved deposit fund;

 (c) a *mutual insurance company;

 (d) a *mutual affiliate company;

 (e) a company whose *constitution prevents it from making any distribution, whether in money, property or otherwise, to its members;

 (f) a company that is prescribed by the regulations;

 (g) the Commonwealth, a State or a Territory;

 (h) a municipal corporation

 (i) a local governing body;

 (j) the government of a foreign country, or of part of a foreign country;

must have been interposed at that time between the head entity and *ultimate owners.

 (3) At that time, those *ultimate owners must have had the right to receive for their own benefit, and *indirectly through the interposed fund or body (or through entities including it):

 (a) a percentage of any distributions of capital of the head entity; or

 (b) a percentage of any *dividends that the head entity may pay or any income that the head entity may distribute.

 (4) If the interposed fund or body is a *superannuation fund, it must have been a *complying superannuation fund, or *a foreign superannuation fund, at the end of the *test day to which the determination relates.

 (5) If the interposed fund or body is an *approved deposit fund, it must have been a *complying approved deposit fund at the end of the *test day to which the determination relates.

149‑155  Limits on tracing through interposed fund or body

Interposed fund or body has more than 50 members or is a government body

 (1) If:

 (a) the interposed fund or body had more than 50 members at that time; or

  (b) the interposed fund or body is covered by any of paragraphs 149‑150(2)(g) to (j) (which describe certain Australian and foreign