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

Schedule 2   Dictionary amendments

Income Tax Assessment Act 1997

62A   Subsection 995-1(1)

Insert:

subordinated debt interest means a *debt interest issued to:

(a) an unsecured creditor; or

(b) a secured creditor who, in the event of the liquidation of the entity issuing the interest, can only make a claim regarding that interest after the claims of other secured creditors regarding other debt interests issued by that entity have been met.