Income Tax Assessment Act 1997

CHAPTER 4 - INTERNATIONAL ASPECTS OF INCOME TAX  

PART 4-5 - GENERAL  

Division 832 - Hybrid mismatch rules  

Subdivision 832-H - Imported hybrid mismatch  

Operative provisions

SECTION 832-615   When a payment gives rise to an imported hybrid mismatch  

832-615(1)  
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.

Note:

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 832-625(1)(c) ; and
(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 832-625(1)(c) ; and
(b) the payer of the importing payment, the offshore deducting entity, and each interposed entity are in the same *Division 832 control group

Note 1:

For the meaning of structured arrangement , see section 832-210 .

Note 2:

For the meaning of Division 832 control group , see section 832-205 .


 

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