Income Tax Assessment Act 1997

CHAPTER 4 - INTERNATIONAL ASPECTS OF INCOME TAX  

PART 4-5 - GENERAL  

Division 832 - Hybrid mismatch rules  

Subdivision 832-E - Reverse hybrid mismatch  

Operative provisions

SECTION 832-400   Hybrid mismatch  

832-400(1)    
A payment gives rise to a hybrid mismatch if:

(a) the payment gives rise to a *deduction/non-inclusion mismatch; and

(b) the payment meets the hybrid requirement in section 832-405 .

Amount of the hybrid mismatch

832-400(2)    
The amount of the *hybrid mismatch is the lesser of:

(a) the amount of the *deduction/non-inclusion mismatch; and

(b) if there is an excess under either subparagraph 832-405(2)(b)(i) or (3)(b)(i) - the amount of the excess.

Ordering rule

832-400(3)    
A payment does not give rise to a hybrid mismatch under this section if it gives rise to a *hybrid financial instrument mismatch or a *hybrid payer mismatch.