Document ID: chunk:federal_register_of_legislation:C2004A00897:clause:1_3:p10
Version: federal_register_of_legislation:C2004A00897
Segment Type: clause
Provision Reference: sch 1 cl 3 (pt 10/26)
Character Range: 122568–127015

section has effect for the purposes of applying Subdivision 820‑D to a *resident TC group that is an *outward investing entity (ADI) for an income year.

 (2) The group's adjusted average equity capital for the income year is the average value, for that year, of the amount worked out under subsection (3).

Note: To calculate an average value for the purposes of this Division, see Subdivision 820‑G.

 (3) The amount worked out under this subsection as at a particular day is the total of the amounts worked out under the table below for each member of the group that is covered by an item in the table and is in the group on that day.

Note: To work out the times during the income year when an entity or Australian permanent establishment was in the group, see section 820‑530.

Resident TC group that is an outward investing entity (ADI)
Item                                                         For:                                                                                                                                                                           The amount is:
    1                                                        a company that, at the end of the income year:                                                                                                                                 the total value of all the company's tier 1 capital (within the meaning of the *prudential standards) as at the end of that day; minus
                                                             (a) is an *ADI; or                                                                                                                                                             the value of the company's *debt capital that is part of that tier 1 capital at the end of that day
                                                             (b) is a *100% subsidiary of an *ADI
    2                                                        a partnership or trust, all interests in whose income and capital are beneficially owned at the end of the income year by one or more entities in the group covered by item 1  the total value of all the tier 1 capital (within the meaning of the *prudential standards) of the partnership or trust as at the end of that day; minus
                                                                                                                                                                                                                                            the value of the *debt capital of the partnership or trust that is part of that tier 1 capital at the end of that day
    3                                                        a company that is not covered by item 1                                                                                                                                        the total value, as at the end of that day, of the company's *paid‑up share capital, retained earnings, general reserves and asset revaluation reserves; minus
                                                                                                                                                                                                                                            the value of the company's *debt capital that is part of the company's paid‑up share capital at the end of that day; plus
                                                                                                                                                                                                                                            the value of the company's debt capital at the end of that day that does not give rise to any *debt deductions of the company for the income year or any other income year
    4                                                        a partnership or trust that is not covered by item 2                                                                                                                           the total value, as at the end of that day, of the capital and reserves of the partnership or trust; minus
                                                                                                                                                                                                                                            the value of the *debt capital of the partnership or trust that is