Document ID: chunk:federal_register_of_legislation:C2014A00110:clause:1_18
Version: federal_register_of_legislation:C2014A00110
Segment Type: clause
Provision Reference: sch 1 cl 18
Character Range: 19001–19441

18  Section 820‑35
Repeal the section, substitute:

820‑35  Application—$2 million threshold
  Subdivision 820‑B, 820‑C, 820‑D or 820‑E does not apply to disallow any *debt deduction of an entity for an income year if the total debt deductions of that entity and all its *associate entities for that year are $2 million or less.

Part 6—Worldwide gearing debt amount for inward investing entities (non‑ADI)

Income Tax Assessment Act 1997