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

83   Subsections 820-583(4) and (5)

Repeal the subsections, substitute:

Inward investing financial entity (non-ADI)

(4) The *head company of a *consolidated group or of a *MEC group is an inward investing financial entity (non-ADI) for a period that is all or part of an income year if, and only if, it is an *inward investment vehicle (financial) for that period (because of subsection (6)).