Introductio
引言
If your business is an Australian subsidiary of a foreign parent company, Australia’s thin capitalisation rules directly affect how much interest and other debt deductions you can claim. These rules are designed to prevent multinational groups from loading excessive debt onto their Australian operations to reduce taxable income in Australia.
如果您的企业是外国母公司的澳大利亚子公司, 澳大利亚的资本弱化规则将直接影响您可以申报的利息及其他债务扣除金额。这些规则旨在防止跨国集团向其澳大利亚运营实体转移过多债务, 从而减少澳大利亚的应税所得。
Important: From 1 July 2023, the thin capitalisation rules underwent major reform. The old safe harbour debt-to-equity ratio has been replaced by new earnings-based tests under Division 820 of the ITAA 1997. This article explains how the new rules work for foreign-owned Australian subsidiaries.
重要提示：从2023年7月1日起, 资本弱化规则进行了重大改革。旧的安全港债务权益比已被新的基于收益的测试方法所取代（根据ITAA 1997 Division 820）。本文将解释新规则如何适用于外资澳洲子公司。
Who Do the Rules Apply To?
谁需要遵守这些规则？
The thin capitalisation rules apply to your Australian entity if:
如果您的澳大利亚实体符合以下条件, 则需要遵守资本弱化规则：
It is foreign-controlled — i.e. a foreign entity (such as a Chinese parent company) holds 40% or more of the ownership interests, or otherwise controls the Australian entity
实体受外国控制——即外国实体（如中国母公司）持有澳洲实体40%或以上的所有权权益, 或以其他方式控制该实体Its total debt deductions exceed A$2 million for the income year
其年度债务扣除总额超过200万澳元
The Three Tests
三项测试方法
Under the new rules (from 1 July 2023), a general class investor (which includes most foreign-controlled Australian subsidiaries) must satisfy at least one of three tests to claim its full debt deductions. If the entity fails all three tests, the excess debt deductions are denied.
根据新规则 (2023年7月1日起), 一般类别投资者 (包括大多数外资控股的澳洲子公司) 必须至少满足以下三项测试中的一项, 才能全额申报其债务扣除。如果三项测试均不通过, 超额债务扣除将被拒绝。
Test 1: Fixed Ratio Test (30% of Tax EBITDA)
测试一：固定比率测试（税务EBITDA的30%）
This is the primary test most entities will use. It limits net debt deductions to 30% of tax EBITDA (Earnings Before Interest, Tax, Depreciation and Amortisation, calculated on a tax basis).
这是大多数实体将使用的主要测试。它将净债务扣除限制为税务EBITDA的30%（按税务口径计算的息税折旧摆销前利润）。
How it works:
Calculate the entity’s tax EBITDA for the income year.
Multiply by 30% — this is the maximum allowable net debt deduction.
If actual net debt deductions exceed this amount, the excess is denied.
Denied deductions can be carried forward for up to 15 years (Subject to conditions).
Test 2: Group Ratio Test
测试二：集团比率测试
If the fixed ratio test is too restrictive, the entity can elect to use the group ratio test instead. This test allows a higher deduction limit if the worldwide group’s ratio of net third-party interest to group EBITDA exceeds 30%.
如果固定比率测试过于严格, 实体可以选择使用集团比率测试。如果全球集团的净第三方利息与集团EBITDA的比率超过30%, 该测试允许更高的扣除限额。
How it works:
Calculate the worldwide group’s ratio of net third-party interest expense to group EBITDA (based on consolidated financial statements).
Apply this ratio to the Australian entity’s tax EBITDA.
The result is the maximum allowable net debt deduction.
Only available where the group ratio exceeds the fixed ratio of 30%.
Key requirement: The group ratio must be calculated using the audited consolidated financial statements of the Ultimate Parent Entity. For Chinese-owned groups, this means the Chinese parent’s CAS or IFRS consolidated accounts.
关键要求：集团比率必须使用最终母公司的已审计合并财务报表计算。对于中资集团, 这意味着需要使用中国母公司的CAS或IFRS合并财务报表。
Test 3: Third Party Debt Test
测试三：第三方债务测试
This test provides an exemption for debt that is genuinely sourced from independent third parties (e.g. Australian bank loans) without recourse to, or guarantees from, the foreign parent.
该测试为真正来源于独立第三方的债务（如澳洲银行贷款）提供豁免, 但前提是该债务不得由外国母公司提供追索权或担保。
Key conditions:
The debt must be from an unrelated third-party lender.
The lender must have NO recourse (direct or indirect) to the foreign parent or any associate.
There must be NO guarantee, security, or similar arrangement from the foreign parent.
The entity must be able to demonstrate it could have obtained the debt on the same terms on a standalone basis.
What Counts as a ‘Debt Deduction’?
哪些算“债务扣除”？
Debt deductions are broadly defined and include:
债务扣除的定义范围很广，包括：
Interest on loans (both related-party and third-party)
贷款利息（关联方和第三方）Payments economically equivalent to interest
经济上等同于利息的付款Borrowing costs (loan establishment fees, line fees, facility fees)
借款费用（贷款设立费、额度费、融资安排费）Finance lease interest (under AASB 16)
融资租赁利息（根据AASB 16）Discounts on debt instruments
债务工具的折价Certain derivative costs related to financing
与融资相关的某些衍生品费用
Practical Implications for Chinese-Owned Australian Subsidiaries
对中资澳洲子公司的实务影响
1. Review your intercompany loan structure: If your Australian subsidiary has significant intercompany loans from the Chinese parent, you need to calculate whether the interest deductions pass the 30% fixed ratio test. If not, consider whether the group ratio test may allow a higher deduction.
1. 审查公司间贷款架构：如果您的澳洲子公司从中国母公司获得了大额公司间贷款, 需要计算利息扣除是否通过30%固定比率测试。如果不能, 考虑集团比率测试是否允许更高的扣除。
2. Impact on low-earning or loss-making entities: The new earnings-based test hits hardest for entities with low or negative EBITDA. Under the old balance-sheet test, a company could still deduct significant interest even if it had no earnings. Under the new test, low EBITDA = low deduction limit. This particularly impacts start-up phase operations and mining exploration companies.
2. 对低收益或亏损实体的影响：新的基于收益的测试对EBITDA低或为负的实体影响最大。在旧的资产负债表测试下, 公司即使没有收益也可以扣除大量利息。新规则下, 低EBITDA = 低扣除限额。这对初创阶段运营和矿业勘探公司影响尤为明显。
3. Consider equity-funding instead: Where the thin cap rules significantly limit interest deductions, it may be more tax-efficient to fund the Australian subsidiary through equity (share capital) rather than intercompany debt. This requires careful planning around the parent’s funding structure and any Chinese foreign exchange controls.
3. 考虑股权融资替代方案：当资本弱化规则大幅限制利息扣除时, 通过股权（股本）而非公司间债务为澳洲子公司提供资金可能更税务高效。但这需要结合母公司的融资架构和中国外汇管制进行周密规划。
4. Interaction with transfer pricing: Remember that thin capitalisation and transfer pricing are separate but related obligations. Even if your intercompany loan passes the thin cap test, the interest rate must also comply with the arm’s length principle under Subdivision 815-B. ATO PCG 2017/2 applies to assess the transfer pricing risk of your related-party financing arrangements.
4. 与转让定价的交叉影响：请记住, 资本弱化和转让定价是独立但相关的合规义务。即使您的公司间贷款通过了资本弱化测试, 利率也必须符合Subdivision 815-B的独立交易原则。ATO PCG 2017/2适用于评估您关联方融资安排的转让定价风险。
Compliance Requirements
合规要求
Thin capitalisation is disclosed as part of the annual company income tax return. There is no separate lodgement requirement. However, you must:
资本弱化在年度企业所得税申报表中披露, 没有单独的提交要求。但您必须：
Complete the relevant thin capitalisation labels in the company tax return
在公司税申报表中填写相关的资本弱化标签。Disclose details in the International Dealings Schedule (IDS) if total international related-party dealings exceed A$2 million
如果国际关联方交易总额超过200万澳元，在国际交易附表（IDS）中披露详情。Maintain contemporaneous documentation supporting the test calculations and the arm’s length nature of your debt arrangements
保留支持测试计算和债务安排独立交易性质的同期文档。
How INP Group Can Help
INP Group可以如何帮助您
As one of Australia’s leading bilingual chartered accounting firms with deep expertise in cross-border tax, we can assist with:
作为澳大利亚领先的中英双语特许会计师事务所, 我们在跨境税务方面拥有深厚专业经验, 可以在以下方面提供协助：
Thin capitalisation assessment: Calculating the fixed ratio test, group ratio test, and third party debt test for your entity.
资本弱化评估：为您的实体计算固定比率测试、集团比率测试和第三方债务测试。Funding structure optimisation: Advising on the optimal mix of debt and equity funding for your Australian operations.
融资架构优化：为您的澳洲运营提供债务和股权融资的最优组合建议。Transfer pricing documentation: Preparing arm’s length benchmarking for your intercompany financing arrangements.
转让定价文档：为您的公司间融资安排编制符合独立交易原则的基准分析。Tax return compliance: Completing the thin cap labels and IDS disclosures in your company tax return.
税务申报合规：在您的公司税申报表中完成资本弱化标签和IDS披露。
Need help assessing your thin capitalisation position? 需要帮助评估您的资本弱化情况？
Contact us at admin@inpgroup.com.au or call 1300 168 368
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