INCOME TAX ASSESSMENT ACT 1997 - SECT 820.932 Worldwide debt and worldwide equity
INCOME TAX ASSESSMENT ACT 1997 - SECT 820.932
Worldwide debt and worldwide equity(1) An entity's worldwide debt at a particular time, means the total of the following amounts:
(a) all the * debt interests issued by the entity:
(i) to entities other than any * Australian controlled foreign entities (the controlled entities ) of which the entity is an * Australian controller at that time; and
(ii) that are still * on issue at that time;
(b) all the debt interests issued by the controlled entities:
(i) to entities other than the entity or other controlled entities; and
(ii) that are still on issue at that time.
(2) An entity's worldwide equity at a particular time, means the total of the following amounts:
(a) all the * equity capital of the entity as at that time, but worked out disregarding * equity interests in the entity held at that time by * Australian controlled foreign entities (the controlled entities ) of which the entity is an * Australian controller at that time;
(b) all the equity capital of the controlled entities as at that time, but worked out disregarding equity interests in the controlled entities held at that time by:
(ii) other controlled entities.