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-AA - Thin capitalisation rules for general class investors  

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Subdiv 820-AA inserted by No 23 of 2024, s 3 and Sch 2 item 29, effective 1 July 2024. For application provisions, see note under s 705-60 .

SECTION 820-45   What this Subdivision is about  

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This Subdivision sets out the thin capitalisation rules that apply to general class investors (that is, entities that are not dealt with in rules set out in Subdivisions 820-B , 820-C , 820-D or 820-E ). These rules deal with the following matters:

how all or a part of the debt deductions claimed by the entity may be disallowed under one of three tests (the fixed ratio test, the group ratio test or the third party debt test);

how the entity can choose to apply which one of these tests applies;

where the fixed ratio test applies, whether the entity can claim a special deduction in respect of amounts previously disallowed under the fixed ratio test.

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S 820-45 inserted by No 23 of 2024, s 3 and Sch 2 item 29, effective 1 July 2024. For application provisions, see note under s 705-60 .

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