On 10 June 2013, the Inland Revenue released an update to the Issues Paper "Review of the thin capitalisation rules", released on 14 January. The update, "Thin capitalisation review: technical issues", invites public feedback on some of the technical details of the proposed changes.
"Acting together" test
The issues paper proposed that the thin capitalization rules apply not only to investments controlled by single non-residents, but also to groups of non-residents if the investor…