Income Tax Assessment Act 1997
An entity is a deducting hybrid in relation to a payment or other amount if:
(a) the payment or other amount gives rise to a *deduction/deduction mismatch; and
(b) the entity is:
(i) for a payment - the entity that makes the payment; or
(ii) for an amount that represents the decline in value of a depreciating asset (see paragraph 832-110(4)(a) ) - the entity that holds the asset; or
(iii) for an amount that represents a share in the net loss of a partnership or other transparent entity (see paragraph 832-110(4)(b) ) - an entity that has an interest in the partnership or other transparent entity; and
(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.
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