Income Tax Assessment Act 1997

CHAPTER 4 - INTERNATIONAL ASPECTS OF INCOME TAX  

PART 4-5 - GENERAL  

Division 820 - Thin capitalisation rules  

Subdivision 820-A - Preliminary  

SECTION 820-32   Exemption for private or domestic assets and non-debt liabilities  

820-32(1)    
This Division does not apply to:

(a)    an asset that is used (or held for use) wholly or principally for private or domestic purposes; or

(b)    a *non-debt liability that is wholly or principally of a private or domestic nature.

820-32(2)    

Subsection (1) does not apply in relation to the following:

(a)    Subdivision 820-EAA ;

(b)    any other provision in this Division, to the extent that it relates to that Subdivision.