Associate definition determines when an entity is treated as connected for tax purposes under section 9A(9)(a).

For the purpose of section 9A(9)(a) of the Income-tax Act, an entity is an Associate where a director, trustee, partner, member or fund manager of the investment fund, or a director, trustee, partner or member of the fund manager, holds, individually or collectively, more than fifteen percent of that entity's share capital or interest; the provision targets shareholding or interest thresholds tied to persons connected with the fund and its manager.

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