Taxation Laws Amendment Act (No. 4) 2002 (53 of 2002)

Schedule 1   Thin capitalisation

Part 1   Amendments

Income Tax Assessment Act 1997

5   Section 820-37 (definition of average total assets )

Repeal the definition, substitute:

average total assets of an entity is the average value, for that year, of all the assets of the entity, other than:

(a) any *debt interests that are *issued by *associates of the entity, that are *on issue, and that are held by the entity; or

(b) any *equity interests that the entity holds in associates of the entity.