New Business Tax System (Thin Capitalisation) Act 2001 (162 of 2001)

Schedule 2   Dictionary amendments

Income Tax Assessment Act 1997

48   Subsection 995-1(1)

Insert:

non-debt liabilities , of an entity and at a particular time, means liabilities that the entity has at that time, other than:

(a) any *debt capital of the entity; or

(b) any *equity interest in the entity; or

(c) a provision for a *distribution of profit if the entity is a *corporate tax entity; or

(d) any liability of the entity under a securities loan arrangement if, as at that time, the entity:

(i) has received amounts for the sale of securities (other than any fees associated with the sale) under the arrangement; and

(ii) has not repurchased the securities under the arrangement.