Taxation Laws Amendment Act (No. 4) 2002 (53 of 2002)
Schedule 1 Thin capitalisation
Part 1 Amendments
Income Tax Assessment Act 1997
22 Subsection 820-225(3) (definition of average debt in table item 4)
Repeal the definition, substitute:
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average debt is taken to be the sum of: (a) the average value, for that period, of the entity's *debt capital that is covered by step 1 of the method statement in subsection (2) of this section; and (b) the average value, for that period, of the entity's *cost-free debt capital that is covered by step 4 of that method statement. |