Income Tax Assessment Act 1997
The amount of *debt deduction disallowed under subsection 820-300(1) is worked out using the following formula:
|Debt deduction ×||
means the average value, for the income year, of all the *debt capital of the entity that gives rise to *debt deductions of the entity for that or any other income year (other than any debt capital that is attributable to any of the entity ' s *overseas permanent establishments).
means the amount by which the *adjusted average equity capital of the entity for that year (see subsection 820-300(3) ) is less than the entity ' s *minimum capital amount for that year.
means each *debt deduction covered by subsection 820-300(1) .
The disallowed amount also does not form part of the cost base of a CGT asset. See section 110-54 .