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Comments on Exposure Draft of New Business Tax System (Thin Capitalisation and other Measures), Bill 2001- Debt Equity Test

Published on 02 Apr 01 by THE TAX INSTITUTE

The Taxation Institute of Australia (Taxation Institute) welcomes the release of the Exposure Draft New Business Tax System (Thin Capitalisation and Other Measures) Bill 2001 (the Exposure Draft). The Taxation Institute wishes to congratulate the Government's continuing policy of releasing Exposure Drafts for comment before introducing legislation into Parliament. This process is more likely to produce tax laws that are equitable, simple, efficient, avoid unintended consequences and reduce compliance costs. This letter focuses on the debt equity aspects of the Exposure Draft.

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