Income Tax Act 2007

YB 3 Company and person other than company

• Company and 25% voting interest holder

  (1) A company and a person other than a company are associated persons if the person has a voting interest in the company of 25% or more.

  Company and 25% market value interest holder

  (2) A company and a person other than a company are associated persons if—

  • (a) a market value circumstance exists for the company; and

  • (b) the person has a market value interest in the company of 25% or more.

  General aggregation rule

  (3) For the purposes of subsections (1) and (2), if a person (person A) and another person (person B) are associated under any of sections YB 4 to YB 14, person A is treated as holding anything held by person B.

  Aggregation rule for land provisions

  (4) For the purposes of subsections (1) and (2), if a person (person A) and another person (person B) are associated under any of sections YB 4(1)(b) and (2) to (4), YB 7, YB 8, and YB 10 to YB 14, person A is treated as holding anything held by person B.

  Person other than company

  (5) In this section, a person other than a company includes a company acting in its capacity as a trustee of a trust.

  Defined in this Act: associated person, company, land provisions, market value circumstance, market value interest, voting interest

  Section YB 3: substituted, on 1 April 2010, by section 563(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).