Income Tax Assessment Act 1997

This Subdivision sets out debt deduction limitation rules that apply to entities that are dealt with in rules set out in Subdivisions 820-AA , 820-B , 820-C , 820-D or 820-E . These rules deal with:

(a) debt deductions in relation to the acquisition of CGT assets, or legal or equitable obligations, from associate pairs of the acquirer; and

(b) debt deductions in relation to a financial arrangement that is entered into by an entity to fund etc. certain payments or distributions to one or more associate pairs of the entity.

The rules in this Subdivision are applied before the rules set out in Subdivisions 820-AA , 820-B and 820-C . If a debt deduction of an entity is disallowed under this Subdivision, the debt deduction is disregarded for the purpose of applying those other Subdivisions (see section 820-31 ).