Queensland Consolidated Acts

PAYROLL TAX ACT 1971 - SECT 74G

(1) A relevant entity has an aggregate interest in a corporation if—

(a) the entity has a direct interest and 1 or more indirect interests in the corporation; or

(b) the entity has more than 1 indirect interest in the corporation.

(2) The value of a relevant entity's aggregate interest in a corporation is the sum of the following amounts—

(a) the value of the direct interest, if any, of the entity in the corporation;

(b) the value of each indirect interest of the entity in the corporation.

Example—

A relevant entity has a direct interest (with a value of 40%) in corporation B. The relevant entity also has a direct interest (with a value of 25%) in corporation A. Corporation A has a direct interest (with a value of 60%) in corporation B. Accordingly, the relevant entity also has an indirect interest in corporation B with a value of 15% (25% x 60%). The value of the relevant entity's aggregate interest in corporation B is 40% + 15% = 55%. For section 72, the relevant entity has a controlling interest in corporation B.