New Business Tax System (Thin Capitalisation) Act 2001 (162 of 2001)

Schedule 1   Thin capitalisation rules

Part 2   Consequential and other amendments

Income Tax Assessment Act 1936

4E   Subsection 160AF(8)

Insert:

relevant debt deduction , for a taxpayer, means a debt deduction of the taxpayer for an income year, to the extent that it is not attributable to any of the taxpayer's overseas permanent establishments.