Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 820.30

    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.

Note:   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).