This consultation process has now been completed.
Date
-
Consultation Type
Exposure Draft
Key Documents
As part of the 2012-13 Budget, the Government announced it will ensure that Australia’s implementation of the Basel III capital reforms does not preclude certain Tier 2 regulatory capital instruments from being classified as a debt interest for the purposes of the income tax law.
This exposure draft regulation contains the proposed amendments to implement the Government’s announcement.
The proposed amendment inserts a regulation into the Income Tax Assessment Regulations 1997 relating to the obligation to pay the principal or interest on a relevant term subordinated note at a particular time on or after 1 January 2013.