Document ID: chunk:federal_register_of_legislation:C2025C00014:section:361
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 361
Character Range: 1944665–1945763

361  Attributable taxpayer in relation to a CFC or a CFT
 (1) An entity (in this subsection called the test entity) is an attributable taxpayer in relation to a CFC at a particular time if, at that time:
 (a) the test entity is an Australian entity whose associate‑inclusive control interest in the CFC is at least 10%; or
 (b) all of the following subparagraphs apply:
 (i) the CFC is a CFC at that time only because of paragraph 340(c);
 (ii) the CFC is controlled by any group of 5 or fewer Australian entities, either alone or together with associates (whether or not any associate is also an Australian entity);
 (iii) the test entity is an Australian 1% entity and is included in that group of 5 or fewer Australian entities.
 (2) An entity (in this subsection called the test entity) is an attributable taxpayer in relation to a CFT at a particular time if, at that time, the test entity is an Australian entity whose associate‑inclusive control interest in the CFT is at least 10%.
 (3) Subsections (1) and (2) have effect subject to section 768‑960 of the Income Tax Assessment Act 1997.