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INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997 - SECT 832.15

Application of imported hybrid mismatch rule

             (1)  Subdivision 832-H (Imported hybrid mismatch) of the Income Tax Assessment Act 1997 applies to assessments for income years starting on or after 1 January 2019.

             (2)  However, in applying Subdivision 832-H to assessments for income years starting before 1 January 2020, items 2 and 3 of the table in subsection 832-615(2) are to be disregarded.

             (3)  Despite subsection (1), Subdivision 832-H does not apply in relation to an offshore hybrid mismatch unless a deduction component of the mismatch arose in a foreign tax period that ends in an income year starting on or after 1 January 2019.

             (4)  In determining whether subsection (3) is satisfied in relation to an offshore hybrid mismatch, disregard section 832-635 of the Income Tax Assessment Act 1997 .

Table of Subdivisions

840-M   Managed investment trust amounts

840-S    Seasonal Labour Mobility Program withholding tax

Table of sections

840-805    Managed investment trust amounts

840-810    Payment of tax under section 840-805



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