INCOME TAX ASSESSMENT ACT 1997 (ARCHIVE)

CHAPTER 4 - INTERNATIONAL ASPECTS OF INCOME TAX  

PART 4-5 - GENERAL  

Division 820 - Thin capitalisation rules  

Subdivision 820-F - Thin capitalisation rules for resident TC groups  

How this Division applies to a resident TC group

SECTION 820-552 (ARCHIVE)   Treatment of exempt special purpose entities  

820-552(1)    
The fact that an entity meets the conditions in subsection 820-39(3) (about insolvency-remote special purpose entities established to manage economic risk) throughout a period ending at the end of an income year does not prevent the entity from being in a *resident TC group for that income year.

820-552(2)    
However, the entity is treated as not being in that group for the purposes of sections 820-550 , 820-555 , 820-565 and 820-575 .

820-552(3)    
While an entity meets the conditions in subsection 820-39(3) , it is treated for the purposes of this Division (except this section) as not being in a *resident TC group that it is in.

Note:

This section has the effect that the circumstances of the entity are not taken into account in applying this Division to the resident TC group. The entity itself is exempt from this Division because of section 820-39 .