ATO Consulting on Thin Capitalisation Third-Party Debt Test

The Australian Taxation Office (ATO) is consulting on Draft Taxation Ruling (TR) 2024/D3 on the application of thin capitalisation third-party debt test and the related Schedule 3 of Draft Practical Compliance Guideline (PCG) 2024/D3 regarding the third-party debt test compliance approach. These form part of the ATO's suite of public advice and guidance products to assist impacted taxpayers following the enactment of the Treasury Laws Amendment (Making Multinationals Pay Their Fair Share—In…