Legislation introduced for new Australian interest limitation rules

The rules included in the legislation, which primarily modifies the thin capitalisation rules are broadly consistent with exposure draft legislation, although there have been some important changes, as outlined by Julian Humphrey, Scott Farrell, Peter Oliver and Alia Lum.

With the bill implementing changes to the interest limitation / thin capitalisation rules now in Parliament and a 1 July 2023 start date for many groups, taxpayers will need to act quickly to assess the impacts. The bill has been referred to the Senate Economics Legislation Committee, which is due to report back on 31 August 2023. The consultation period for the bill closes 21 July 2023. This legislation primarily modifies the thin capitalisation rules. Please see our previous article for a...

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Authors: Julian Humphrey, Scott Farrell,

Published Date: 05 July 2023