Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 820.57

    An entity has a fixed ratio test disallowed amount (or FRT disallowed amount ) for an income year equal to:

  (a)   if * debt deductions of the entity for the income year are disallowed under subsection   820 - 46(1) and the amount disallowed is worked out in accordance with paragraph   820 - 50(1)(a) (fixed ratio test applies)--the amount disallowed; or

  (b)   otherwise--zero.