Income Tax Assessment Act 1997
The Object of this Division is to ensure that the following entities do not reduce their tax liabilities by using an excessive amount of *debt capital to finance their Australian operations:
(a) *Australian entities that operate internationally;
(b) Australian entities that are foreign controlled;
(c) *foreign entities that operate in Australia.
This Division applies in relation to debt deductions of an entity as reduced, if required, in accordance with Division 815 (about cross-border transfer pricing).
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