Income Tax Assessment Act 1997

CHAPTER 4 - INTERNATIONAL ASPECTS OF INCOME TAX  

PART 4-5 - GENERAL  

Division 820 - Thin capitalisation rules  

Subdivision 820-AA - Thin capitalisation rules for general class investors  

Operative provisions

SECTION 820-57  

820-57   Meaning of FRT disallowed amount  


An entity has a fixed ratio test disallowed amount (or FRT disallowed amount ) for an income year equal to:

(a)    if * debt deductions of the entity for the income year are disallowed under subsection 820-46(1) and the amount disallowed is worked out in accordance with paragraph 820-50(1)(a) (fixed ratio test applies) - the amount disallowed; or

(b)    otherwise - zero.


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