Income Tax Assessment Act 1997
This Subdivision neutralises a hybrid financial instrument mismatch if it involves a deduction, or non-inclusion, in Australia.
A deduction/non-inclusion mismatch is a hybrid financial instrument mismatch if it is attributable to hybridity in the treatment of a financial instrument or an arrangement to transfer a financial instrument, and either the relevant parties are related or the mismatch arose under a structured arrangement.
There is also an integrity rule that covers payments that are made in lieu of hybrid payments.
This Subdivision has an extended application in relation to payments that are subject to concessional tax rates in a foreign country.
A hybrid financial instrument mismatch that is not neutralised by this Subdivision (or by foreign hybrid mismatch rules) is an offshore hybrid mismatch, which might give rise to an imported hybrid mismatch under Subdivision 832-H .
|832-180||Deduction not allowable - Australian primary response|
|832-185||Inclusion in assessable income - Australian secondary response|
|832-190||Exception where entity not a party to the structured arrangement|
|832-195||When a hybrid financial instrument mismatch is an offshore hybrid mismatch|
|832-200||When a payment gives rise to a hybrid financial instrument mismatch|
|832-205||Meaning of Division 832 control group|
|832-210||Meaning of structured arrangement|
|832-220||Hybrid requirement - payments under financial instruments|
|832-225||Hybrid requirement - payments under transfers of certain financial instruments|
|832-230||Hybrid mismatch - integrity rule for substitute payments|
|832-235||Extended operation of this Subdivision in relation to concessional foreign taxes|
|832-240||Adjustment if hybrid financial instrument payment is income in a later year|