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Debt versus Equity

Published on 03 Apr 01 by NEW SOUTH WALES DIVISION, THE TAX INSTITUTE

This paper dicusses Debt versus Equity, with a focus on the the concept of debt and equity as defined in Division 153 looking at three main areas:
(i) denying deductions for payments in respect of 'non-share' equity and enabling deductibility of payments made in respect of 'debt-like' equity;
(ii) determining equity for the purposes of franking; and
(iii) determining treatment of return of capital; determining debt capital and equity interests for the purposes of the thin capitalisation provisions.

Author profile:

Paul KING
Paul is a senior director of Greenwoods & Freehills Pty Ltd and has extensive experience in property and, in particular, the structuring of infrastructure projects.
Current at 14 September 2007 Current at 26 September 2007 Click here to expand/collapse more articles by Paul KING.
 

 

This was presented at Thin Capitalisation and Debt/Equity Rules .

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