Treasury Laws Amendment (Making Multinationals Pay Their Fair Share - Integrity and Transparency) Act 2024 (23 of 2024)
Schedule 2 Thin capitalisation
Part 1 Amendments
Income Tax Assessment Act 1997
4A Section 705-60 (after table item 5)
Insert:
|
5A |
Subtract from the result of step 5 the step 5A amount worked out under section 705-102, which is about certain *FRT disallowed amounts accruing to the joined group before the joining time |
To prevent a double benefit arising from the FRT disallowed amounts |