New Business Tax System (Thin Capitalisation) Act 2001 (162 of 2001)
Schedule 2 Dictionary amendments
Income Tax Assessment Act 1997
62A Subsection 995-1(1)
Insert:
subordinated debt interest means a *debt interest issued to:
(a) an unsecured creditor; or
(b) a secured creditor who, in the event of the liquidation of the entity issuing the interest, can only make a claim regarding that interest after the claims of other secured creditors regarding other debt interests issued by that entity have been met.
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