Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 832.620

  (1)   A payment gives rise to a hybrid mismatch if the payment is an * importing payment in relation to an * offshore hybrid mismatch.

Note:   For the meaning of offshore hybrid mismatch see sections   832 - 195, 832 - 300, 832 - 390, 832 - 465, and 832 - 540.

Ordering rule

  (2)   A payment does not give rise to a hybrid mismatch under this section if it gives rise to a * hybrid financial instrument mismatch, a * hybrid payer mismatch, a * reverse hybrid mismatch, a * branch hybrid mismatch or a * deducting hybrid mismatch.

Note:   However, for an imported hybrid mismatch to arise, a different payment must have given rise to an offshore hybrid mismatch that is of one of these kinds.