Income Tax Assessment Act 1997
View history note
Hide history noteSECTION 820-427B Modified third party debt conditions for conduit financing 820-427B(1)
If a *debt interest satisfies the conditions in subsection 820-427C(1) in relation to an income year, then this section applies in relation to: (a) that debt interest (the relevant debt interest ); and (b) the debt interest that is the ultimate debt interest mentioned in subsection 820-427C(1) in relation to the relevant debt interest.
Special rules for third party debt conditions - ultimate debt interest and relevant debt interest
820-427B(2)
In applying section 820-427A in relation to the income year, in relation to the relevant debt interest and the ultimate debt interest: (a) treat the reference in subparagraph 820-427A(3)(d)(ii) to *associate entity debt as being a reference to associate entity debt other than:
(i) a debt interest that satisfies the conditions in subsection 820-427C(1) in relation to the ultimate debt interest; or
(b) treat references in paragraphs 820-427A(4)(a) and (b) to the entity as including the conduit financer mentioned in paragraph 820-427C(1)(a) and each entity that issues a debt interest that satisfies the conditions in subsection 820-427C(1) in relation to the ultimate debt interest.
(ii) a debt interest issued by an entity that is an *Australian entity and that has made a choice under subsection 820-46(4) to use the third party debt test for the income year; and
Special rules for third party debt conditions - relevant debt interest
820-427B(3)
In applying subsection 820-427A(3) in relation to the income year, in relation to the relevant debt interest, in addition to applying subsection (2) of this section: (a) treat the conditions in paragraphs 820-427A(3)(a) and (b) as being satisfied; and (b) treat subsection 820-427A(3) as also including the condition that the ultimate debt interest satisfies the *third party debt conditions (having regard to subsection (2) of this section) in relation to the income year.
Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited
CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.
The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.
