Income Tax Assessment Act 1997

CHAPTER 4 - INTERNATIONAL ASPECTS OF INCOME TAX  

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Chapter 4 inserted by No 162 of 2001.

PART 4-5 - GENERAL  

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Part 4-5 inserted by No 162 of 2001.

Division 820 - Thin capitalisation rules  

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Division 820 inserted by No 162 of 2001.

Subdivision 820-C - Thin capitalisation rules for inward investing financial entities (non-ADI)  

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Subdiv 820-C heading amended by No 23 of 2024, s 3 and Sch 2 item 54, by inserting " financial " , effective 1 July 2024. For application provisions, see note under s 705-60 .

Subdiv 820-C inserted by No 162 of 2001.

SECTION 820-180   What this Subdivision is about  

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This Subdivision sets out the thin capitalisation rules that apply to an entity that is an inward investing financial entity (non-ADI) for all of an income year (but not an outward investing financial entity (non-ADI) for all or any part of that year). These rules deal with the following matters:

• how to work out the entity ' s maximum allowable debt for an income year;

• how all or a part of the debt deductions claimed by the entity may be disallowed if the maximum allowable debt is exceeded;

• how to apply these rules to a period that is less than an income year.

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S 820-180 amended by No 23 of 2024, s 3 and Sch 2 item 55, by substituting " an entity that is an inward investing financial entity (non-ADI) for all of an income year (but not an outward investing financial entity (non-ADI) for all or any part of that year) " for " a foreign entity or a foreign controlled Australian entity that is not an authorised deposit-taking institution (an ADI ) " , effective 1 July 2024. For application provisions, see note under s 705-60 .

S 820-180 inserted by No 162 of 2001.

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