The ATO has released a discussion paper for public consultation outlining ATO’s preliminary approach to determining for the purposes of thin capitalisation, the Risk weighted assets (RWAs) associated with a foreign bank’s branch which has Australian operations. The paper also specifies the necessary supporting documentation that the ATO will consider for Justified Trust reviews concerning thin capitalisation positions.
Submissions are due by Friday 31 May 2024. We are currently seeking feedback from members on your views regarding this consultation. To enable The Tax Institute to collate member feedback, if you have feedback to share, please email your response by COB on Friday 10 May 2024 to taxpolicy@taxinstitute.com.au
