Document ID: chunk:federal_register_of_legislation:F2023C00564:reg:21:p4
Version: federal_register_of_legislation:F2023C00564
Segment Type: reg
Provision Reference: reg 21 (pt 4/6)
Character Range: 43739–46367

for a company with one shareholder—the beneficiaries of the trust include an associated person in relation to the shareholder; and
 (b) for a company with more than one shareholder—the beneficiaries of the trust include at least 2 beneficiaries who are associated persons in relation to different shareholders.
 (5) For a partnership that is a member of the GST group or proposed GST group, each associated person in relation to a partner in the partnership is also a permitted beneficiary if the beneficiaries of the trust include at least 2 beneficiaries who are associated persons in relation to different partners.

48‑10.03A  Alternative membership requirements for groups of fixed trusts
 (1) This section sets out the alternative requirements mentioned in paragraph 48‑10.03(1)(a) for a trust to satisfy in relation to a GST group or proposed GST group that consists only of fixed trusts.
Note: The fixed trust must also satisfy other membership requirements set out in section 48‑10 of the Act.
 (2) The fixed trust must be a member of the same 90% owned trust group as all other fixed trusts in that group.
 (3) For the purposes of this section:
 (a) two fixed trusts are members of the same 90% owned trust group if:
 (i) the trustee of one of the trusts has at least a 90% trust stake in the other trust; or
 (ii) the trustee of a third trust has at least a 90% trust stake in each of the 2 trusts; and
 (b) the trustee of a fixed trust (the head trust) has at least a 90% trust stake in another fixed trust (the sub‑trust) if the trustee:
 (i) owns at least 90% of the issued units in the sub‑trust (whether directly or indirectly through one or more interposed trusts or companies); and
 (ii) has the right to receive at least 90% of any distribution of capital or income of the sub‑trust.

48‑10.04  Membership requirements for individuals
 (1) For the purposes of subparagraph 48‑10(1)(a)(ii) of the Act, this section sets out the requirements that an individual must satisfy.
Note: The individual must also satisfy other membership requirements set out in section 48‑10 of the Act.
 (2) The individual must satisfy the requirements of subsection (3), (4) or (5).

Requirements that may be satisfied
 (3) The individual satisfies the requirements of this subsection if, for at least one company that is a member of the GST group or proposed GST group:
 (a) the individual has at least a 90% stake in the company (worked out in accordance with section 190‑5 of the Act as if the individual were a company); or
 (b) each shareholder of the company is either the individual or a family member of the individual.
 (4)