Income Tax Assessment Act 1997
CHAPTER 4
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INTERNATIONAL ASPECTS OF INCOME TAX
PART 4-5
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GENERAL
Division 832
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Hybrid mismatch rules
Subdivision 832-C
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Hybrid financial instrument mismatch
Operative provisions
SECTION 832-205 Meaning of Division 832 control group 832-205(1)
Two or more entities are in the same Division 832 control group if any of the following apply:
(a) each of the entities is a member of a group of entities that are consolidated for accounting purposes as a single group;
(b) one of the entities holds a * total participation interest of 50 % or more in each of the other entities;
(c) a third entity holds a total participation interest of 50 % or more in each of the entities.
832-205(1A)
If a trust is in a Division 832 control group as a result of the operation of subsection (1), then the trustee of the trust is in the same Division 832 control group .
832-205(2)
For the purposes of subsection (1), in determining a * direct participation interest of one entity in another entity, disregard paragraph 350(1)(b) of the Income Tax Assessment Act 1936 (rights of shareholders to vote or participate in certain decision-making).
View history note
Hide history noteSECTION 832-205 Meaning of Division 832 control group 832-205(1)
Two or more entities are in the same Division 832 control group if any of the following apply:
(a) each of the entities is a member of a group of entities that are consolidated for accounting purposes as a single group;
(b) one of the entities holds a * total participation interest of 50 % or more in each of the other entities;
(c) a third entity holds a total participation interest of 50 % or more in each of the entities.
832-205(1A)
If a trust is in a Division 832 control group as a result of the operation of subsection (1), then the trustee of the trust is in the same Division 832 control group .
832-205(2)
For the purposes of subsection (1), in determining a * direct participation interest of one entity in another entity, disregard paragraph 350(1)(b) of the Income Tax Assessment Act 1936 (rights of shareholders to vote or participate in certain decision-making).