Income Tax Assessment Amendment Regulations 2010 (No 3) was made on 14 April 2010 and registered on the Federal Register of Legislative Instruments on the same day.
The purpose of the Regulations is to facilitate debt tax treatment of certain term subordinated notes. Under the notes, payment can be deferred in certain circumstances and holders are only entitled to payment after other debt holders have been paid. These notes are used to contribute to the capital adequacy of Authorised Deposit-taking Institutions (ADIs) for the purposes of prudential regulations. However, the Regulations apply to all issuers.
For a copy of the Explanatory Statement, click on ES/Supp Material.