On 17 July 2019, the Australian Taxation Office (ATO) issued Taxation Determination (TD) 2019/12 - Income tax: what type of costs are debt deductions within scope of subparagraph 820-40(1)(a)(iii) of the Income Tax Assessment Act 1997? TD 2019/D12 concerns the category of debt deductions for thin capitalization purposes (subparagraph 820-40(1)(a)(iii)) that includes amounts directly incurred i…