Document ID: chunk:federal_register_of_legislation:C2014A00110:clause:1_21:p1
Version: federal_register_of_legislation:C2014A00110
Segment Type: clause
Provision Reference: sch 1 cl 21 (pt 1/3)
Character Range: 29152–32155

21  After Subdivision 820‑J
Insert:

Subdivision 820‑JA—Worldwide debt and equity concepts

Guide to Subdivision 820‑JA

820‑931  What this Subdivision is about
      This Subdivision provides for the meanings of worldwide debt, worldwide equity, statement worldwide debt, statement worldwide equity and statement worldwide assets.

Table of sections

Operative provisions
820‑932 Worldwide debt and worldwide equity
820‑933 Statement worldwide debt, statement worldwide equity and statement worldwide assets
820‑935 Requirements for audited consolidated financial statements

Operative provisions

820‑932  Worldwide debt and worldwide equity

Worldwide debt
 (1) An entity's worldwide debt at a particular time, means the total of the following amounts:
 (a) all the *debt interests issued by the entity:
 (i) to entities other than any *Australian controlled foreign entities (the controlled entities) of which the entity is an *Australian controller at that time; and
 (ii) that are still *on issue at that time;
 (b) all the debt interests issued by the controlled entities:
 (i) to entities other than the entity or other controlled entities; and
 (ii) that are still on issue at that time.

Worldwide equity
 (2) An entity's worldwide equity at a particular time, means the total of the following amounts:
 (a) all the *equity capital of the entity as at that time, but worked out disregarding *equity interests in the entity held at that time by *Australian controlled foreign entities (the controlled entities) of which the entity is an *Australian controller at that time;
 (b) all the equity capital of the controlled entities as at that time, but worked out disregarding equity interests in the controlled entities held at that time by:
 (i) the entity; or
 (ii) other controlled entities.

820‑933  Statement worldwide debt, statement worldwide equity and statement worldwide assets

Statement worldwide debt
 (1) An entity's statement worldwide debt for a period is the amount (see subsection (4)) of liabilities for the entity for the period, reduced (but not below zero) by the sum of the following amounts (see subsection (4)) for the entity for the period:
 (a) provisions;
 (b) liabilities in relation to distributions to equity participants;
 (c) trade payables;
 (d) deferred tax liabilities;
 (e) liabilities relating to employee benefits;
 (f) current tax liabilities;
 (g) deferred revenue;
 (h) liabilities relating to insurance;
 (i) any other amount specified in a legislative instrument under subsection (5).

Statement worldwide equity
 (2) An entity's statement worldwide equity for a period means the amount (see subsection (4)) of net assets for the entity for the period.

Statement worldwide assets
 (3) An entity's statement worldwide assets for a period means the amount (see subsection (4)) of assets for the entity for the period.

Amounts from audited consolidated financial statements to be used
 (4) For the purposes of this section:
 (a) an amount for an entity