Income Tax Assessment Act 1997
Income that is taxed in 2 countries is dual inclusion income. It can be applied to reduce the neutralising amount for the hybrid payer mismatch and the deducting hybrid mismatch.
This Subdivision modifies the concepts of " subject to Australian income tax " and " subject to foreign income tax " for the purposes of calculating dual inclusion income.
It also identifies which entities are able to apply dual inclusion income.
|832-680||Dual inclusion income, and when an entity is eligible to apply it|