Document ID: chunk:federal_register_of_legislation:C2010C00617:clause:2_160ardaa:p1
Version: federal_register_of_legislation:C2010C00617
Segment Type: clause
Provision Reference: sch 2 cl 160ARDAA (pt 1/2)
Character Range: 15712–18326

160ARDAA  Definitions

 (1) In this Division:

ABN has the meaning given by the A New Tax System (Australian Business Number) Act 1999.

arrangement has the same meaning as in the Income Tax Assessment Act 1997.

associate has the same meaning as in section 318.

controller, in relation to an exempt institution, has the meaning given by subsections (2) to (6) (inclusive).

notional trust amount, in relation to an exempt institution, is an amount that would be a trust amount of the institution if section 50‑1 of the Income Tax Assessment Act 1997 had not been enacted.

related transaction, in relation to a dividend or notional trust amount, means an act, transaction or circumstance that has occurred, will occur, or may reasonably be expected to occur as part of, in connection with or as a result of:
 (a) the payment or receipt of the dividend; or
 (b) the arising of the entitlement to, or the distribution or receipt of, the notional trust amount; or
 (c) any arrangement entered into in association with:
 (i) the payment or receipt of the dividend; or
 (ii) the arising of the entitlement to, or the distribution or receipt of, the notional trust amount.

Controller of exempt institution that is a company

 (2) An entity is a controller of an exempt institution that is a company if the entity is a controller of the company (for CGT purposes) within the meaning of section 140‑20 of the Income Tax Assessment Act 1997.

Controller of exempt institution other than a company—basic meaning

 (3) Subject to subsections (5) and (6), an entity is a controller of an exempt institution that is not a company if:
 (a) a group in relation to the entity has the power, by means of the exercise of a power of appointment or revocation or otherwise, to obtain beneficial enjoyment (directly or indirectly) of the capital or income of the institution; or
 (b) a group in relation to the entity is able (directly or indirectly) to control the application of the capital or income of the institution; or
 (c) a group in relation to the entity is capable, under a scheme, of gaining the beneficial enjoyment referred to in paragraph (a) or the control referred to in paragraph (b); or
 (d) the institution or, if the institution is a trust, the trustee of the trust:
 (i) is accustomed; or
 (ii) is under an obligation; or
 (iii) might reasonably be expected;
  to act in accordance with the directions, instructions or wishes of a group in relation to the entity; or
 (e) a group in relation to the entity is able (directly or indirectly) to remove or appoint the trustee of the trust if the institution is a