INTERNATIONAL ASPECTS OF INCOME TAX
Thin capitalisation rules
Grouping branches of foreign banks and foreign financial entities with a consolidated group, MEC group or single Australian resident company
What this Subdivision is about
(a) the head company of a consolidated group or MEC group; or
(b) an Australian company that cannot consolidate;
is a member of the same wholly-owned group as a foreign bank or foreign financial entity, the company can choose to treat as part of itself the Australian branches of the foreign bank or foreign financial entity, affecting how the rest of this Division applies.