Section DB 10B — Income Tax Act 2007: Interest or expenditure connected to stapled debt security

DB 10B Interest or expenditure connected to stapled debt security No deduction (1) A company that issues a stapled debt security is denied, while section FA 2B(2) (Stapled debt securities) applies to the security, a deduction for— (a) interest payable under the security: (b) expenditure or loss incurred in connection with the security: (c) expenditure or loss incurred in borrowing the money secured by or owing under the security. Relationship with sections DB 5 to DB 8 (2) This section overrides sections DB 5 to DB 8 . Link with subpart DA (3) This section overrides the general permission. Defined in this Act: deduction , general permission , interest , pay , stapled debt security Section DB 10B: inserted (with effect on 1 April 2008), on 6 October 2009, by section 72 of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).