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
83 Subsections 820-583(4) and (5)
Repeal the subsections, substitute:
Inward investing financial entity (non-ADI)
(4) The *head company of a *consolidated group or of a *MEC group is an inward investing financial entity (non-ADI) for a period that is all or part of an income year if, and only if, it is an *inward investment vehicle (financial) for that period (because of subsection (6)).
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