Income Tax Assessment Act 1997

CHAPTER 4 - INTERNATIONAL ASPECTS OF INCOME TAX  

PART 4-5 - GENERAL  

Division 820 - Thin capitalisation rules  

Subdivision 820-G - Calculating the average values  

Special rules about values and valuation

SECTION 820-690  

820-690   Commissioner ' s power  

If the Commissioner considers that, in relation to a calculation under this Division, an entity has:

(a) overvalued its assets; or

(b) undervalued its liabilities (including its *debt capital);

the Commissioner may, having regard to the *accounting standards and this Subdivision, substitute a value that the Commissioner considers is appropriate.