(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