Document ID: chunk:federal_register_of_legislation:C2025C00014:section:340
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 340
Character Range: 1899907–1900865

340  Controlled foreign company (CFC)
  A company is a CFC at a particular time if, at that time, the company is a resident of a listed country or of an unlisted country and any of the following paragraphs applies:
 (a) at that time, there is a group of 5 or fewer Australian 1% entities the aggregate of whose associate‑inclusive control interests in the company is not less than 50%;
 (b) both of the following subparagraphs apply:
 (i) at that time, there is a single Australian entity (in this paragraph called the assumed controller) whose associate‑inclusive control interest in the company is not less than 40%;
 (ii) at that time, the company is not controlled by a group of entities not being or including the assumed controller or any of its associates;
 (c) at that time, the company is controlled by a group of 5 or fewer Australian entities, either alone or together with associates (whether or not any associate is also an Australian entity).