On 18 October 2017, the Australian Taxation Office (ATO) issued Taxation Determinations TD 2017/21 and TD 2017/22 on whether a partnership or trust can be taken to hold a direct control interest in a foreign company for the purpose of Subdivision 768-A of the Income Tax Assessment Act 1997 where an Australian corporate tax entity is a partner in the partnership or a beneficiary of the trust. Subdivision 768-A provides that in certain circumstances an equity distribution made by a foreign comp…