Document ID: chunk:federal_register_of_legislation:C2010C00261:clause:4_12
Version: federal_register_of_legislation:C2010C00261
Segment Type: clause
Provision Reference: sch 4 cl 12
Character Range: 36547–38410

12  After Subdivision 960‑G
Insert:

Subdivision 960‑GP—Participation interests in entities

Table of sections

960‑180 Total participation interest
960‑185 Indirect participation interest
960‑190 Direct participation interest
960‑195 Non‑portfolio interest test

960‑180  Total participation interest

  An entity's total participation interest at a particular time in another entity is the sum of:
 (a) the entity's *direct participation interest in the other entity at that time; and
 (b) the entity's *indirect participation interest in the other entity at that time.

960‑185  Indirect participation interest

 (1) Work out the indirect participation interest that an entity (the holding entity) holds at a particular time in another entity (the test entity) by multiplying:
 (a) the holding entity's *direct participation interest (if any) in another entity (the intermediate entity) at that time;
by:
 (b) the sum of:
 (i) the intermediate entity's direct participation interest (if any) in the test entity at that time; and
 (ii) the intermediate entity's indirect participation interest (if any) in the test entity at that time (as worked out under one or more other applications of this section).

 (2) If there is more than one intermediate entity to which paragraph (1)(a) applies at that time, the holding entity's indirect participation interest is the sum of the percentages worked out under subsection (1) in relation to each of those intermediate entities.

960‑190  Direct participation interest

 (1) Use the following table to work out the direct participation interest that one entity holds in another entity.

Direct participation interest
                               If the other entity is this kind of entity:                                     the direct participation interest that the first entity holds in the other entity is: