Income Tax Assessment Act 1997

CHAPTER 4 - INTERNATIONAL ASPECTS OF INCOME TAX  

PART 4-5 - GENERAL  

Division 832 - Hybrid mismatch rules  

Subdivision 832-C - Hybrid financial instrument mismatch  

Operative provisions

SECTION 832-180   Deduction not allowable - Australian primary response  

832-180(1)  
This section applies to an entity if:

(a) apart from this section, the entity would be entitled to a deduction in an income year in respect of a payment; and

(b) the deduction is the *deduction component of a *hybrid financial instrument mismatch to which the payment gives rise.

832-180(2)  
So much of the deduction as does not exceed the amount of the *hybrid financial instrument mismatch is not allowable as a deduction.