Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) An entity's statement worldwide debt for a period is the amount (see subsection (4)) of liabilities for the entity for the period, reduced (but not below zero) by the sum of the following amounts (see subsection (4)) for the entity for the period:
(a) provisions;
(b) liabilities in relation to distributions to equity participants;
(c) trade payables;
(d) deferred tax liabilities;
(e) liabilities relating to employee benefits;
(f) current tax liabilities;
(g) deferred revenue;
(h) liabilities relating to insurance;
(i) any other amount specified in a legislative instrument under subsection (5).
(2) An entity's statement worldwide equity for a period means the amount (see subsection (4)) of net assets for the entity for the period.
(3) An entity's statement worldwide assets for a period means the amount (see subsection (4)) of assets for the entity for the period.
Amounts from audited consolidated financial statements to be used
(4) For the purposes of this section:
(a) an amount for an entity for a period is taken to be that amount as shown in the * audited consolidated financial statements for the entity for the period; and
(b) sections 820 - 680 and 820 - 682 do not apply.
Other amounts
(5) The Minister may, by legislative instrument, specify one or more amounts for the purposes of paragraph (1)(i).