ATO Provides Guidance on Revoking Thin Capitalisation Test Choices and Requesting an Extension to Make a Choice
The Australian Taxation Office (ATO) has published updated guidance on the approved form for choosing to use the group ratio test or the third-party debt test for an entity under the thin capitalisation rules. This includes additional guidance on making a choice for the 2024 income year considering that the due date for the 2024 income year will occur prior to the finalisation of certain relat…
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