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The fundamentals of interest deductibility paper


This paper covers:

  • Fundamentals of Interest Deductibility
    • what is interest? (BHP Co and the debt/equity provisions)
    • is it too soon? (Steele's case)
    • is it too late? (Brown's case)
    • purpose/use (Macquarie Finance and St George cases)
    • refinancing (Smith & Roberts case)
    • derivation of income (Total Holdings and Spassked)
    • interest withholding tax
    • thin capitalisation.
  • Debt/equity
    • how do the Debt/Equity rules impact interest deductibility?
    • key issues
      • effective non-contingent obligations
      • timing
      • related schemes
      • limited recourse debt
      • convertible notes/hybrids
    • impact of recent cases including St George.
  • Debt pricing
    • transfer pricing and interest
    • guarantee fees and intra-group loans
    • an examination of the ATO's recent discussion paper.

Author profiles:

Neil Ward FTI
Neil is a Partner at Deloitte. Neil has more than 25 years experience advising on tax. During this period he has advised on most aspects of corporate taxation both from an Australian and International perspective. Neil has had significant experience with tax consulting to the banking and finance sector. Neil is recognised as one of the leading tax advisers on financial arrangements, foreign exchange, thin capitalisation and infrastructure transactions and has been actively involved in the tax reform of financial arrangements. Current at 01 June 2009 Click here to expand/collapse more articles by Neil WARD.
Helen Fisher CTA
Helen is a partner at Deloitte with over 14 years experience, specialising in providing tax consulting services to Financial Services Industry clients. She advises listed and multinational clients on various aspects of Australian taxation law, including structured finance transactions, hybrid instruments, foreign hybrids, TOFA, structuring of global investment funds, corporate restructures, and international tax matters. Current at 04 November 2010 Click here to expand/collapse more articles by Helen FISHER.

Natalie Wellard
Natalie is an Analyst, National Tax at Deloitte. Current at 21 August 2008 Click here to expand/collapse more articles by Natalie WELLARD.

Michael Jenkins CTA
Michael has worked in the area of transfer pricing and international tax for around 15 years, both in the ATO and in a professional services environment. He is currently an Assistant Commissioner in the Public Groups & Internationals business line of the ATO. Michael is involved in a number of major transfer pricing cases, and leads a team involved in the development of the ATO’s guidance products related to the transfer pricing provisions enacted in 2013. He is currently the Australian delegate to the OECD’s Working Party No. 6 on transfer pricing matters, and was the Australian competent authority for transfer pricing matters from 2010 to 2012. Current at 02 June 2015 Click here to expand/collapse more articles by Michael JENKINS.
Individual sessions

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