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

25   Paragraph 832-550(c)

Repeal the paragraph, substitute:

(c) the entity:

(i) is a *liable entity in one deducting country (but not both); or

(ii) satisfies the residency test in subsection 832-555(9) in both deducting countries, and is also a liable entity in both deducting countries; or

(iii) is a *member of a *consolidated group or a *MEC group.