Australia: Consultation on proposed amendments to new interest limitation / thin capitalisation rules
Amendments modify Schedule 2 to provide that new thin capitalisation rules are appropriately targeted
Consultation on proposed amendments to new interest limitation/thin capitalisation rules
Treasury released for consultation exposure draft parliamentary amendments to proposed legislation to amend Australia's interest limitation rules. Read TaxNewsFlash
According to the explanatory memorandum [PDF 250 KB], the amendments modify Schedule 2 to the Treasury Laws Amendment (Making Multinationals Pay Their Fair Share—Integrity and Transparency) Bill 2023 to provide that the new thin capitalisation rules (including the debt deduction creation rule) are appropriately targeted.
The amendments were prepared in line with the Senate Economics Legislation Committee final report on the bill. Read TaxNewsFlash
The consultation closes 30 October 2023.
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