sec.72Groups arising from tracing of interests in corporations

### sec.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. 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 . s 72 ins 1975 No. 80 s 14 sub 2008 No. 16 s 15 amd 2009 No. 19 s 73 ; 2022 No. 30 s 48 (sec.72-ssec.1) A relevant entity and a corporation constitute a group if the entity has a controlling interest in the corporation. 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. (sec.72-ssec.2) 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%. (sec.72-ssec.3) In this section— interest means a direct interest, indirect interest or aggregate interest under section 74B . relevant entity see section 74B . - (a) the corporation has share capital; and - (b) the entity has an interest in the corporation; and - (c) the value of the interest is more than 50%.