Income tax: how do the transitional measures in the Corporations Act 2001 ('Corporations Act') impact upon the definition of a financial entity for the purposes of Division 820 of the Income Tax Assessment Act 1997 ('ITAA 1997')?

TD 2002/21 explains how transitional measures in the Corporations Act affect a financial entity for the purpose of Division 820 (thin capitalisation) of the ITAA 1997. The Corporations Act provided a two year transitional period during which time an entity that held a dealer's licence granted under the old corporations law would be treated as a financial entity.

TD 2002/21 is being withdrawn as it only applies during the transitional period which commenced on 11 March 2002 and covered the 2002-03 to 2003-04 income years.

TD 2002/21 has no ongoing relevance and is therefore withdrawn without replacement.