Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 820.55

  (1)   The entity EBITDA of an entity, for a period, is the sum of the following for the entity for the period:

  (a)   the entity's net profit (disregarding tax expenses);

  (b)   the entity's * adjusted net third party interest expense;

  (c)   the entity's depreciation and amortisation expenses.

  (2)   The GR group EBITDA , for a period, of a * GR group for the period, is the sum of the following:

  (a)   the GR group's net profit (disregarding tax expenses);

  (b)   the GR group's * adjusted net third party interest expense;

  (c)   the GR group's depreciation and amortisation expenses;

as disclosed in:

  (d)   if paragraph   820 - 53(2)(a) applies--the * audited consolidated financial statements for the * GR group parent for the period for the GR group; or

  (e)   if paragraph   820 - 53(2)(b) applies--the * global financial statements for the GR group parent for the period for the GR group.

  (3)   For the purposes of subsection   (2), in working out the * GR group's * GR group EBITDA for the period, if a * GR group member for the period of the GR group has an * entity EBITDA for the period of less than zero, disregard that entity EBITDA.

  (4)   To avoid doubt, for the purposes of this section, an entity's, or a * GR group's, net profit (disregarding tax expenses) can be a negative amount.