Document ID: chunk:federal_register_of_legislation:C2015A00170:clause:1_4a
Version: federal_register_of_legislation:C2015A00170
Segment Type: clause
Provision Reference: sch 1 cl 4A
Character Range: 8650–9340

4A  Paragraphs 3C(1)(a) and (b)
Repeal the paragraphs, substitute:
 (a) the entity has total income equal to or exceeding $100 million for the income year and, at the end of the income year:
 (i) the entity is not an Australian resident that is a private company for the income year; or
 (ii) the entity is a member of a wholly‑owned group that has a foreign resident ultimate holding company; or
 (iii) the percentage of foreign shareholding in the entity is greater than 50%; or
 (b) the entity has total income equal to or exceeding $200 million for the income year and, at the end of the income year, the entity is an Australian resident that is a private company for the income year.