Document ID: chunk:federal_register_of_legislation:C2024A00132:section:39:p2
Version: federal_register_of_legislation:C2024A00132
Segment Type: section
Provision Reference: s 39 (pt 2/2)
Character Range: 48111–49360

Percentage in the test entity; and
 (ii) the intermediate entity's Indirect Ownership Interest Percentage in the test entity (as worked out under one or more other applications of this section).
 (4) Despite subsection (3), if there is more than one intermediate entity to which paragraph (3)(a) applies, the holding entity's Indirect Ownership Interest Percentage in the test entity is the sum of the percentages worked out under subsection (3) in relation to each of those intermediate entities.
 (5) Treat a reference in this section to an Entity as being a reference to an Entity or a Permanent Establishment (unless the Entity is a holding entity mentioned in this section).
 (6) Subsection (7) applies if, as a result of subsection (5):
 (a) the holding entity mentioned in subsection (2) is the Main Entity in respect of a Permanent Establishment; and
 (b) the test entity mentioned in subsection (2) is the Permanent Establishment.
Note: The Main Entity is taken to hold a Direct Ownership Interest in the Permanent Establishment: see subsection 38(4).
 (7) Despite subsection (2), treat the holding entity's Direct Ownership Interest Percentage in the test entity as being 100%.

Division 4—Location of Entities and Permanent Establishments