Treasury Laws Amendment (Making Multinationals Pay Their Fair Share - Integrity and Transparency) Act 2024 (23 of 2024)
Schedule 2 Thin capitalisation
Part 1 Amendments
Income Tax Assessment Act 1997
109 Subsection 820-920(4) (method statement, step 1)
Repeal the step, substitute:
Step 1. Work out the *safe harbour debt amount of the *associate entity for the day during which that particular time occurs, as if the associate entity were an *outward investing financial entity (non-ADI) or *inward investing financial entity (non-ADI), as appropriate, for the period consisting only of that day.
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