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INCOME TAX ASSESSMENT ACT 1997 - SECT 832.395

When a payment gives rise to a reverse hybrid mismatch

             (1)  A payment gives rise to a reverse hybrid mismatch if:

                     (a)  the payment gives rise to a * hybrid mismatch under section 832-400; and

                     (b)  subsection (3) or (4) applies.

             (2)  The deduction component of the * reverse hybrid mismatch is the * deduction component of the * deduction/non-inclusion mismatch mentioned in section 832-400.

Control group

             (3)  This subsection applies if the following entities are in the same * Division 832 control group:

                     (a)  the entity that made the payment;

                     (b)  the * reverse hybrid;

                     (c)  each entity that is an investor identified in paragraph 832-410(2)(c) in relation to the reverse hybrid.

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

Structured arrangement

             (4)  This subsection applies if the payment is made under a * structured arrangement.

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



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