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Australia: Updated form and instructions for thin capitalization test choice

Updated guidance regarding revocation requests

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February 14, 2025

The Australian Taxation Office (ATO) updated its form and instructions for taxpayers to choose either the group ratio test or the third party debt test (thin capitalization test choice) for an income year.

The updated instructions include additional ATO guidance regarding:

  • Revocation requests for the 2024 income year due to changes in finalized ATO views
  • Extension of time requests for the 2024 income year due to changes in finalized ATO views

The ATO notes that the website will be updated soon to include:

  • Approved form for revocations
  • Guidance on how to submit these requests

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