Document ID: chunk:federal_register_of_legislation:C2010C00577:clause:1_15
Version: federal_register_of_legislation:C2010C00577
Segment Type: clause
Provision Reference: sch 1 cl 15
Character Range: 7685–8220

15  Section 820‑115 (definition of average debt)
Repeal the definition, substitute:

average debt means the sum of:
 (a) the average value, for the income year, of the entity's *debt capital that is covered by step 1 of the method statement in subsection 820‑85(3); and
 (b) the average value, for that year, of the entity's *cost‑free debt capital that is covered by step 5 of that method statement;
(disregarding any amount that is attributable to the entity's *overseas permanent establishments in working out the average values).