Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 820.30

Object of Division

                   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).



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