Income Tax Assessment Act 1997

CHAPTER 4 - INTERNATIONAL ASPECTS OF INCOME TAX  

PART 4-5 - GENERAL  

Division 820 - Thin capitalisation rules  

Subdivision 820-A - Preliminary  

SECTION 820-31   Order of application of Subdivisions  

820-31(1)    
First, work out if a *debt deduction of an entity for an income year is disallowed under Subdivision 820-EAA (debt deduction limitation rules for debt deduction creation).

820-31(2)    
To the extent that all or part of a debt deduction is disallowed under that Subdivision, disregard the debt deduction in applying the following provisions in relation to the entity for the income year:

(a)    Subdivision 820-AA ;

(b)    Subdivision 820-B ;

(c)    Subdivision 820-C .

Note:

The provisions mentioned in paragraphs (2)(a) to (c) may further disallow debt deductions of the entity.