Document ID: chunk:federal_register_of_legislation:C2025C00014:section:109ca:p2
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 109CA (pt 2/3)
Character Range: 926461–929057

that lease, licence or other right.
Note: For the meaning of land, see section 2B of the Acts Interpretation Act 1901.
 (7) Subsection (1) does not apply to the provision of a dwelling, if:
 (a) the dwelling is the main residence of the entity; and
 (b) the provider of the dwelling is a private company; and
 (c) the private company acquired the dwelling before 1 July 2009; and
 (d) the private company would meet the conditions in section 165‑12 of the Income Tax Assessment Act 1997 (which is about the company maintaining the same owners) if, despite subsection 165‑12(1), the ownership test period were the period:
 (i) starting on the start of 1 July 2009; and
 (ii) ending at the time of payment, worked out under subsection (2) of this section.
 (7A) Subsection (1) does not apply to the provision of a dwelling to the entity if:
 (a) the dwelling is a flat or home unit that is part of a complex of 2 or more flats or home units; and
 (b) the provider of the dwelling is a company that owns a legal or equitable interest in the land on which the complex is erected; and
 (c) there is more than one share in the company, and each share (whether singly or as part of a parcel of shares) gives the relevant shareholder the right to occupy a flat or home unit in the complex; and
 (d) each flat or home unit in the complex is covered by a share, or a parcel of shares, in the company; and
 (e) the dwelling is provided to the entity because a shareholder holds such a share, or parcel of shares; and
 (f) the company does not have legal or equitable interests in any assets other than legal or equitable interests in:
 (i) the complex, and the land on which it is erected; and
 (ii) any related land and buildings; and
 (iii) any related plant, machinery, equipment, furniture or fittings; and
 (iv) any assets relating to the matters mentioned in paragraph (g); and
 (g) the assessable income of the company is derived predominantly from:
 (i) managing and maintaining the complex (including the assets mentioned in subparagraphs (f)(i), (ii) and (iii)); and
 (ii) interest and dividends relating to income derived from managing and maintaining the complex (including the assets mentioned in those subparagraphs).
 (7B) Subsection (7A) does not apply in a case to which Subdivision E (about interposed entities) applies, if the company mentioned in that subsection is interposed between:
 (a) a private company; and
 (b) a shareholder, or an associate of a shareholder, of the private company.
 (8) Section 118‑120 of the Income Tax Assessment Act 1997 (Extension to adjacent land) applies