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Thin capitalisation: applying AGAAP not AIFRS in transitional period.

Publication date: 03 Nov 06 | Source: WEEKLY TAX BULLETIN

Issue: No 46 2006

Pages: pp.1792-94

Abstract:
The thin capitalisation provisions broadly limit interest deductions for inbound and outbound investors that breach certain debt/equity ratios or other tests. Practice Statement Law Administration PS LA 2006/12, released on 20 September 2006, sets out the Commissioner's guidelines regarding certain practical issues which arise when a taxpayer chooses to apply certain transitional provisions.

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Author profiles

Ronen Vexler
Photo of author, Ronen VEXLER Ronen is a Partner in PwC's Sydney corporate tax practice, with experience across a broad range of taxation issues including compliance, due diligence and structuring. He has assisted on a broad range of clients, both inbound and outbound and of various sizes. Ronen leads PwC Australia's Tax Accounting Services practice. He has been a Tax Accounting specialist for over 15 years and has been the lead tax partner of many statutory audits. Ronen has extensive expertise assisting large companies understand day to day tax accounting issues, as well as the tax accounting consequences of changing tax law, changing accounting standards, and merger and acquisition activity. He is a frequent presenter on tax accounting issues. - Current at 25 February 2015
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David Romans
David works for PricewaterhouseCoopers. - Current at 05 July 2009
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David IRELAND
David is a corporate Tax Partner of PricewaterhouseCoopers based in Sydney, in the Resources, Services and Government industry group. David has 16 years of taxation and accounting experience, which includes the past 12 years spent with PricewaterhouseCoopers in Corporate Tax Consulting Services. David provides day to day income tax consulting advice and compliance services to a range of national and multinational public and private groups. David provides income tax advice on financing, international and domestic structuring transactions, merger and acquisition transactions and has undertaken a number of large projects assisting large corporate groups transition to the consolidation regime.

Current at 27 November 2003

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Michael Davidson ATI
Michael is a Partner with PricewaterhouseCoopers. - Current at 01 June 2015
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