Taxation Laws Amendment Act (No. 5) 2003 (142 of 2003)

Schedule 1   Thin Capitalisation: amendments taking effect on 1 July 2001

Part 11   Arm's length debt amount

Income Tax Assessment Act 1997

38   At the end of subsection 820-215(2)


; (f) the entity's only activities during that year were the Australian business;

(g) the entity's only assets and liabilities during that year were those referred to in paragraph (c) of this subsection.

However, the assumptions set out in paragraphs (f) and (g) of this subsection are not to be made in taking into account the relevant factors mentioned in subsection (3).