Taxation Laws Amendment Act (No. 5) 2003 (142 of 2003)

Schedule 1   Thin Capitalisation: amendments taking effect on 1 July 2001

Part 5   Arrangements for borrowing securities

Income Tax Assessment Act 1997

23   Subsection 820-942(1) (after step 3 of the method statement)

Insert:

Step 3A. Add to the result of step 3 the total value, as at that time, of all the assets of the entity, to the extent that they:

(a) consist of rights to the return of assets covered by subsection (2A); and

(b) are covered by none of steps 1, 2 and 3.