Document ID: chunk:federal_register_of_legislation:C2014C00749:clause:15_11:p20
Version: federal_register_of_legislation:C2014C00749
Segment Type: clause
Provision Reference: sch 15 cl 11 (pt 20/20)
Character Range: 333516–334912

receive (either directly, or indirectly through one or more interposed entities) at least 40% of any distribution of trust income, or trust capital.

727‑370  Preventing double counting for percentage stake tests
  If an interest giving an entity, or an entity and its *associates:
 (a) the ability to exercise, or control the exercise of, any of the voting power in a company; or
 (b) the right to receive dividends that a company may pay; or
 (c) the right to receive a distribution of capital of a company; or
 (d) the right to receive a distribution of trust income or trust capital;
is both direct and indirect, and (apart from this section) would be counted more than once in applying subsection 727‑355(1) or (2) or section 727‑360, only the direct interest is to be counted.

727‑375  Tests in this Subdivision are exhaustive
  An entity does not control (for value shifting purposes) a company or trust except as provided in this Subdivision.

Common‑ownership nexus and ultimate stake of a particular percentage

727‑400  When 2 entities have a common‑ownership nexus within a period
 (1) 2 entities have a common‑ownership nexus within a period if, and only if, they satisfy the test in any of the one or more items in the table applicable to them.

Common‑ownership nexus within a period
Item                                    If the entities are:                   This is the test: