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

124   Subsection 995-1(1)

Insert:

financial statement net third party interest expense has the meaning given by section 820-54.

fixed ratio earnings limit has the meaning given by section 820-51.

fixed ratio test disallowed amount has the meaning given by section 820-57.

FRT disallowed amount : see fixed ratio test disallowed amount .

general class investor has the meaning given by subsections 820-46(2) and 820-583(1).

GR group has the meaning given by section 820-53.

GR group member has the meaning given by section 820-53.

GR group net third party interest expense has the meaning given by section 820-54.

GR group parent has the meaning given by section 820-53.

group EBITDA has the meaning given by section 820-55.

group ratio has the meaning given by section 820-53.

group ratio earnings limit has the meaning given by section 820-51.