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.