Groups arising from tracing of interests in corporations
72 Groups arising from tracing of interests in corporations
A relevant entity and a corporation constitute a group if the entity has a controlling interest in the corporation.
Note—
Section 74 allows the commissioner to exclude, for payroll tax and mental health levy purposes, persons from a group constituted under this section in some circumstances.
For this section, a relevant entity has a controlling interest in a corporation if—
the corporation has share capital; and
the entity has an interest in the corporation; and
the value of the interest is more than 50%.
In this section—
interest means a direct interest, indirect interest or aggregate interest under section 74B.
relevant entity see section 74B.
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