Income Tax Assessment Act 1997
SECTION 820-55 Meaning of entity EBITDA and GR group EBITDA 820-55(1)
The entity EBITDA of an entity, for a period, is the sum of the following for the entity for the period: (a) the entity ' s net profit (disregarding tax expenses); (b) the entity ' s * adjusted net third party interest expense; (c) the entity ' s depreciation and amortisation expenses.
820-55(2)
The GR group EBITDA , for a period, of a * GR group for the period, is the sum of the following: (a) the GR group ' s net profit (disregarding tax expenses); (b) the GR group ' s * adjusted net third party interest expense; (c) the GR group ' s depreciation and amortisation expenses;
as disclosed in:
(d) if paragraph 820-53(2)(a) applies - the * audited consolidated financial statements for the * GR group parent for the period for the GR group; or (e) if paragraph 820-53(2)(b) applies - the * global financial statements for the GR group parent for the period for the GR group.820-55(3)
For the purposes of subsection (2) , in working out the * GR group ' s * GR group EBITDA for the period, if a * GR group member for the period of the GR group has an * entity EBITDA for the period of less than zero, disregard that entity EBITDA.
820-55(4)
To avoid doubt, for the purposes of this section, an entity ' s, or a * GR group ' s, net profit (disregarding tax expenses) can be a negative amount.
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