On 4 July 2019, the Treasury Laws Amendment (Making Sure Multinationals Pay Their Fair Share of Tax in Australia and Other Measures) Bill 2019 was introduced in the Australian House of Representatives. The measures of the bill as provided in the explanatory memorandum are as follows:
Thin capitalisation
Schedule 1 to this Bill amends the ITAA 1997 to tighten Australia’s thin capitalisation rules by:
- requiring an entity to use the value of the assets, liabilities (including debt capital) …