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

Schedule 2 Dictionary amendments

Insert:

equity capital , of an entity and at a particular time, means:

(a) if the entity is a company that is not an *outward investing entity (ADI) at that time:

(i) the total value of the entity's *paid-up share capital, retained earnings, general reserves and asset revaluation reserves as at that time; minus

(ii) the value of the entity's *debt capital that is part of the entity's paid-up share capital at that time; or

(b) if the entity is a company that is an outward investing entity (ADI) at that time:

(i) the total value of all the entity's tier 1 capital (within the meaning of the *prudential standards) as at that time; minus

(ii) the value of the entity's debt capital that is part of the entity's tier 1 capital at that time; or

(i) the total value of the entity's capital and reserves as at that time; minus

(ii) the value of the entity's debt capital that is part of the entity's capital at that time.