Income Tax Assessment Act 1997
View history note
Hide history noteSECTION 832-225 Hybrid requirement - payments under transfers of certain financial instruments 832-225(1)
A *deduction/non-inclusion mismatch, or a part of such a mismatch, meets the hybrid requirement in this section if:
(a) the payment that gives rise to the mismatch is made under an *arrangement covered by subsection 832-215(2) ; and
(b) the mismatch, or the part of the mismatch, is attributable to differences in the treatment of the arrangement; and
(c) the exception in subsection (2) of this section does not apply.
Exception for deferrals not exceeding 3 years
832-225(2)
This exception applies if:
(a) the difference in treatment mentioned in paragraph (1)(b) primarily relates to a deferral in the recognition of income or profits under the *arrangement; and
(b) the term of the arrangement is 3 years or less.
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