New Thin Capitalization Rules for Foreign Banks in Australia

Topics:
Commercial Banking
Tags:
Capitalization,
Deduction,
Finance,
Financial Planning,
Foreign Bank,
Free Trade,
Taxes
Source:
Allens Arthur Robinson

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Overview: The thin capitalization rule according to the report is that applies to Australian branches of foreign banks is referred to as the rule applicable to 'inward investing entities (ADI)'. Non-compliance with this rule will result in the disallowance of tax deductions for a portion of all of an Australian branch's debt deductions (i.e. interest and other expenses related to debt raisings). This rule replaces the former legislation which automatically denied Australian branches of foreign banks a tax deduction for 4% of their interest expenses.

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Format: PDF | Size: 101KB | Date: Feb 2002 | Pages: 4

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