Document ID: chunk:federal_register_of_legislation:C2021C00358:clause:1_8b
Version: federal_register_of_legislation:C2021C00358
Segment Type: clause
Provision Reference: sch 1 cl 8B
Character Range: 18631–19546

8B  Meaning of starts an Australian business
 (1) A foreign person starts an Australian business if:
 (a) the foreign person starts to carry on an Australian business; or
 (b) for a foreign person who already carries on an Australian business—the business starts a new activity that:
 (i) is not incidental to an existing activity of the Australian business; and
 (ii) is within a different Division under the Australian and New Zealand Standard Industrial Classification Codes from the current activities of the Australian business.
 (2) Despite subsection (1), if a foreign person carries on an Australian business, the person does not start an Australian business merely because the foreign person, alone or together with one or more persons, establishes a new entity:
 (a) that carries on the same Australian business; or
 (b) for the purposes of acquiring interests in assets of the same Australian business.