New Business Tax System (Thin Capitalisation) Act 2001 (162 of 2001)

Schedule 2   Dictionary amendments

Income Tax Assessment Act 1997

45   Subsection 995-1(1)

Insert:

maximum allowable debt :

(a) for an *outward investing entity (non-ADI) - has the meaning given by section 820-90 (or that section as applied by section 820-120); and

(b) for an *inward investing entity (non-ADI) covered by paragraph 820-185(1)(a) (or 820-225(1)(a)) - has the meaning given by section 820-190 (or that section as applied by section 820-225).