250Definitions

250 Definitions

S. 250(1) def. of consolidated group inserted by No. 47/2020 s. 16(2).

consolidated group has the same meaning as in section 703-5 of the ITAA;

S. 250(1) def. of corporate consolidation inserted by No. 47/2020 s. 16(2).

corporate consolidation means the interposition of a head company between a corporation that is a member of a corporate group and the shareholders or unit holders of that corporation for the purposes of the formation or continuation of a consolidated group;

S. 250(1) new def. of corporate group inserted by No. 52/2021 s. 47(3).

corporate group means a parent corporation and the subsidiaries of that parent corporation;

corporation includes—

(a) a unit trust scheme;

(b) a public offer superannuation fund within the meaning of section 18 of the Superannuation Industry (Supervision) Act 1993 of the Commonwealth that has at least 300 public subscribers;

S. 250(1) def. of corporate group repealed by No. 52/2021 s. 47(2).

S. 250(1) def. of head company inserted by No. 47/2020 s. 16(2).

head company means a corporation that is a head company within the meaning of section 703‑15(2)(a) of the ITAA;

S. 250(1) def. of ITAA inserted by No. 47/2020 s. 16(2).

ITAA means the Income Tax Assessment Act 1997 of the Commonwealth;

S. 250(1) def. of parent corporation amended by No. 17/2019 s. 22(a).

parent corporation means a corporation that directly or indirectly—

(a) holds at least 90% of the beneficial ownership of another corporation (the subsidiary); and

(b) has the ability to cast, or to control the casting of, at least 90% of the maximum number of votes that may be cast at a general meeting of the subsidiary.

S. 250(1) def. of relevant corporate group repealed by No. 17/2019 s. 22(b).

S. 250(2) amended by No. 36/2005 s. 19(a).

(2) In this Division, if—

(a) the issued shares or units of a corporation are stapled to the issued shares or units of one or more other corporations; and

S. 250(2)(b) amended by No. 28/2011 s. 26.