• Question 36

    Attention

    Warning:

    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

    End of attention

    You must complete all labels. However, if you have written code 7 or 8 (ADI) at question 33 label A, you do not need to completed E and H.

    To complete this question, you need to:

    • At A, write the total amount of your debt deductions for the income year that are allowable before applying the thin capitalisation provisions in Division 820 of the ITAA 1997.
    • At B, write the amount of your debt deductions that were deductible under section 25-90 of the ITAA 1997 (costs in relation to a debt interest incurred in deriving non-assessable non-exempt income under section 23AI, 23AJ or 23AK of the ITAA 1936) for the income year. If none of the debt deductions shown at A were deductible under section 25-90, enter 0 (zero) at B.
    • At C, write the amount of your debt deductions for any debt interest held or ultimately funded (via a back-to-back arrangement) by a non-resident person who is either a controller or majority owner of you, or is controlled or majority owned by the same persons as you (this includes majority ownership through other companies, partnerships or trusts). If none of the debt deductions shown at A were for debt interests held or ultimately funded by such non-resident entities, enter 0 (zero) at C.
    • At D, write the amount of your debt deductions that are disallowed for the income year under the following sections if you have written
      • code 1 or 2 at question 33 label A, the amount disallowed under sections 820-115 and 820-120
      • code 3, 4, 5 or 6 at question 33 label A, the amount disallowed under sections 820-220 and 820-225
      • code 7 at question 33 label A, the amount disallowed under sections 820-325 and 820-330
      • code 8 at question 33 label A, the amount disallowed under sections 820-415 and 820-420.
       
    • At E, write the amount of your adjusted average debt for the income year worked out under the following sections if you have written
      • code 1 or 2 at question 33 label A, under subsection 820-85(3)
      • code 3, 4, 5 or 6 at question 33 label A, under subsection 820-185(3).
       
    • At F, write the total amount by which your assets have been revalued for thin capitalisation purposes for the income year (this is to be included in the amount you write at question 36 label H).
    • At G, write the following amount for the income year if you have written
      • code 1, 2, 3, 4, 5 or 6 at question 33 label A, the amount by which your adjusted average debt at question 36 label  E exceeds your maximum allowable debt at question 36 label I
      • code 7 at question 33 label A, the amount by which your minimum capital amount at question 36 label I exceeds the amount of your adjusted average equity capital at question 37 label C
      • code 8 at question 33 label A, the amount by which your minimum capital amount at question 36 label I exceeds the amount of your average equity capital at question 37 label C.
       
    • At H, write the amount of the average value of your assets required to be included in step 1 of the following sections if you have written
      • code 1 at question 33 label A, under section 820-95
      • code 2 at question 33 label A, under section 820-100
      • code 3 at question 33 label A, under section 820-195
      • code 4 at question 33 label A, under section 820-200
      • code 5 at question 33 label A, under section 820-205
      • code 6 at question 33 label A, under section 820-210.
       
    • At I, write the following amount if you have written
      • code 1 or 2 at question 33 label A, your maximum allowable debt determined under section 820-90
      • code 3, 4, 5 or 6 at question 33 label A, your maximum allowable debt determined under section 820-190
      • code 7 at question 33 label A, your minimum capital amount determined under section 820-305
      • code 8 at question 33 label A, your minimum capital amount determined under section 820-400.
       
    Last modified: 09 Nov 2011QC 24292