Income Tax Assessment Act 1997
A payment gives rise to an imported hybrid mismatch if:
(a) the payment gives rise to a *hybrid mismatch under section 832-620 ; and
(b) an item in the table in subsection (2) applies to the importing payment.
The amount of the imported hybrid mismatch is worked out under section 832-630 .Priority rules for importing payments 832-615(2)
If more than one item in the following table covers an *importing payment in relation to an *offshore hybrid mismatch, apply the first item that covers it. However, an item does not apply to an importing payment if:
(a) an item higher in the table applies to one or more other importing payments in relation to the offshore hybrid mismatch; and
(b) the offshore hybrid mismatch is, or will be, fully neutralised by the application of this Subdivision, and equivalent provisions of applicable *foreign hybrid mismatch rules, to those other importing payments.
|Priority table for importing payments|
|Item||Topic||An *importing payment is covered if:|
|1||Structured arrangement||(a) the *importing payment is made under a *structured arrangement; and
(b) the payer of the importing payment, the offshore deducting entity mentioned in paragraph 832-625(1)(c) , and each interposed entity (if applicable) are all *parties to the structured arrangement
|2||Direct payment||(a) the *importing payment is made directly to the offshore deducting entity mentioned in paragraph
(b) the payer of the importing payment and the offshore deducting entity are in the same *Division 832 control group
|3||Indirect payment||(a) the *importing payment is made indirectly through one or more interposed entities to the offshore deducting entity mentioned in paragraph
(b) the payer of the importing payment, the offshore deducting entity, and each interposed entity are in the same *Division 832 control group
For the meaning of structured arrangement , see section 832-210 .
For the meaning of Division 832 control group , see section 832-205 .
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