Treasury Laws Amendment (2020 Measures No. 2) Act 2020 (79 of 2020)
Schedule 1 Hybrid mismatch rules
Part 1 Main amendments
Income Tax Assessment Act 1997
11 At the end of section 832-130
Certain foreign taxes disregarded in this Division
(7) This subsection covers each of the following:
(a) *credit absorption tax;
(b) *unitary tax;
(c) withholding-type tax;
(d) municipal tax;
(e) in the case of a federal foreign country - a State tax.
Note: The definitions of credit absorption tax and unitary tax are in section 770-15.