Document ID: chunk:federal_register_of_legislation:C2025C00029:section:3:p32
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 3 (pt 32/32)
Character Range: 7271954–7273676

one of the 2 or more entities, is to be taken to hold that particular interest in the controlled entity equal to 100%; and
 (b) another entity is not to be taken to hold that particular interest in the controlled entity (whether or not it would, apart from this subsection, hold that interest in the controlled entity equal to 100%).

820‑835  Commissioner's power
  For the purposes of this Subdivision, the Commissioner may decide:
 (a) which one of 2 things is to be taken into account for the purposes of subsection 820‑820(4) or subsection 820‑825(3); or
 (b) which one of 2 or more entities is to be chosen for the purposes of paragraph 820‑830(2)(a).

TC direct control interest, TC indirect control interest and TC control tracing interest

820‑855  TC direct control interest in a company
 (1) A thin capitalisation direct control interest (or a TC direct control interest) that an entity holds in a company (except a *corporate limited partnership) at a particular time is the percentage of the direct control interest (if any) that the entity holds in the company at that time under the provisions applied by subsection (2).
Note: For the TC direct control interest that an entity holds in a corporate limited partnership, see section 820‑865.
 (2) For the purposes of subsection (1), provisions of Part X of the Income Tax Assessment Act 1936 are applied with the modifications set out in the following table.

Modifications of provisions in Part X of the Income Tax Assessment Act 1936
Item                                                                         Provisions                                                                                                                           Modifications