Taxation Laws Amendment Act (No. 5) 2003 (142 of 2003)

Schedule 1   Thin Capitalisation: amendments taking effect on 1 July 2001

Part 5   Arrangements for borrowing securities

Income Tax Assessment Act 1997

20   Subsection 820-185(3) (step 3 of the method statement)

Repeal the step, substitute:

Step 3. If the entity is a *financial entity throughout the relevant year, add to the result of step 2 the average value, for the relevant year, of the entity's *borrowed securities amount.