New Business Tax System (Thin Capitalisation) Act 2001 (162 of 2001)

Schedule 2   Dictionary amendments

Income Tax Assessment Act 1997

56   Subsection 995-1(1)

Insert:

prudential capital deduction , for an entity and at a particular time, means the total amounts that must be deducted in calculating the following in accordance with the *prudential standards as in force at that time:

(a) the eligible tier 1 capital of the entity at that time (within the meaning of those standards);

(b) the sum of the eligible tier 1 and tier 2 capital of the entity at that time (within the meaning of those standards).