Document ID: chunk:federal_register_of_legislation:C2010C00499:clause:7_3
Version: federal_register_of_legislation:C2010C00499
Segment Type: clause
Provision Reference: sch 7 cl 3
Character Range: 38308–39275

3  Subsection 205‑25(1)
Repeal the subsection, substitute:

 (1) An entity satisfies the residency requirement for an income year in which, or in relation to which, an event specified in a relevant table occurs if:
 (a) the entity is a *company, or a *corporate limited partnership, to which at least one of the following subparagraphs applies:
 (i) the entity is an *Australian resident for more than one half of the 12 months immediately preceding the event if the event occurs before the end of the income year;
 (ii) the entity is an Australian resident at all times during the income year when the entity exists if the event occurs at or after the end of the income year;
 (iii) the entity is an Australian resident for more than one half of the income year (whether or not the event occurs before the end of the income year); or
 (b) the entity is a *corporate unit trust for the income year; or
 (c) the entity is a *public trading trust for the income year.