Tax and Superannuation Laws Amendment (2014 Measures No. 4) Act 2014 (110 of 2014)
Schedule 1 Thin capitalisation
Part 5 De minimis threshold
Income Tax Assessment Act 1997
18 Section 820-35
Repeal the section, substitute:
820-35 Application - $2 million threshold
Subdivision 820-B, 820-C, 820-D or 820-E does not apply to disallow any *debt deduction of an entity for an income year if the total debt deductions of that entity and all its *associate entities for that year are $2 million or less.
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