Income Tax Assessment Act 1997

CHAPTER 4 - INTERNATIONAL ASPECTS OF INCOME TAX  

PART 4-5 - GENERAL  

Division 832 - Hybrid mismatch rules  

Subdivision 832-G - Deducting hybrid mismatch  

Operative provisions

SECTION 832-550   832-550   Deducting hybrid  


An entity is a deducting hybrid in relation to a payment or other amount if:


(a) the payment or other amount gives rise to a *deduction/deduction mismatch; and


(b) the entity is:


(i) for a payment - the entity that makes the payment; or

(ii) for an amount that represents the decline in value of a depreciating asset (see paragraph 832-110(4)(a) ) - the entity that holds the asset; or

(iii) for an amount that represents a share in the net loss of a partnership or other transparent entity (see paragraph 832-110(4)(b) ) - an entity that has an interest in the partnership or other transparent entity; and


(c) the entity is:


(i) a *liable entity in at least one deducting country; or

(ii) a *member of a *consolidated group.

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