Provide appropriate other references to the ita, Taxation

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Provide appropriate other references to the ita

Problem

Mr. Andrew Fit and Mr. James Jack are friends, who studied together while at university. Andrew Fit owns 90% of the shares of Fit Fitness Ltd. and 10% of Jack Physio Ltd. James Jack owns 90% of the shares of Jack Physio Ltd. and 10 % of Fit Fitness Ltd. Are Fit Fitness Ltd. and Jack Physio Ltd. associated corporations pursuant to ITA 256? Determine which paragraph in ITA 256(1) applies and provide appropriate other references to the ITA.

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Taxation: Provide appropriate other references to the ita

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