Treasury Laws Amendment (Tax Integrity and Other Measures No. 2) Act 2018 (84 of 2018)
Schedule 1 OECD Hybrid Mismatch Rules
Part 2 Other amendments
Income Tax Assessment Act 1936
4 After subsection 23AH(14B)
Branch hybrid mismatch income
(14C) For the purposes of this section, if foreign income derived by the company is an amount that, for the purposes of Division 832 of the Income Tax Assessment Act 1997, is a payment:
(a) received by the company; and
(b) that, apart from subsection (4A) of this section, would give rise to a branch hybrid mismatch;
then so much of the foreign income as does not exceed the amount of the branch hybrid mismatch is branch hybrid mismatch income .
(14D) For the purposes of this section, PE , when it is used in Division 832 of the Income Tax Assessment Act 1997, does not have the meaning it has in that Act but instead has the same meaning as in this section.