Document ID: chunk:federal_register_of_legislation:C2024A00023:clause:2_15a
Version: federal_register_of_legislation:C2024A00023
Segment Type: clause
Provision Reference: sch 2 cl 15A
Character Range: 15054–15703

15A  After section 820‑30
Insert:

820‑31  Order of application of Subdivisions
 (1) First, work out if a *debt deduction of an entity for an income year is disallowed under Subdivision 820‑EAA (debt deduction limitation rules for debt deduction creation).
 (2) To the extent that all or part of a debt deduction is disallowed under that Subdivision, disregard the debt deduction in applying the following provisions in relation to the entity for the income year:
 (a) Subdivision 820‑AA;
 (b) Subdivision 820‑B;
 (c) Subdivision 820‑C.
Note: The provisions mentioned in paragraphs (2)(a) to (c) may further disallow debt deductions of the entity.