Tax and Superannuation Laws Amendment (2014 Measures No. 4) Act 2014 (110 of 2014)

Schedule 1   Thin capitalisation

Part 3   Worldwide capital amount

Income Tax Assessment Act 1997

14   Subsection 820-320(2) (method statement, steps 2 and 3)

Repeal the steps, substitute:

Step 3. Multiply the result of step 1 by the entity’s worldwide group capital ratio for that year (see subsection (3)).