Income Tax Assessment Act 1997
View history note
Hide history noteSECTION 820-815 General rule about thin capitalisation control interest in a company, trust or partnership
Meaning of TC control interest
820-815(1)
The thin capitalisation control interest (or TC control interest ) that an entity holds in a company, trust or partnership at a particular time is the total of the following interests:
(a) the *TC direct control interest (if any) held by the entity in the company, trust or partnership at that time;
(b) the *TC indirect control interest (if any) held by the entity in the company, trust or partnership at that time;
(c) the TC direct control interests (if any) held by the entity ' s *associate entities in the company, trust or partnership at that time;
(d) the TC indirect control interests (if any) held by the entity ' s associate entities in the company, trust or partnership at that time.
This section has effect subject to sections 820-820 to 820-835 (which set out special rules to avoid double counting).
Note:
For the rules about a TC direct control interest, see sections 820-855 to 820-865 . For the rules about a TC indirect control interest, see sections 820-870 to 820-875 .
820-815(2)
This section does not apply to an *associate entity of the entity if:
(a) the associate entity is a *foreign entity and the associate entity is such an associate entity only because of subsection 820-905(3A) ; or
(b) the associate entity is such an associate entity only because of subsection 820-905(3B) .
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