Income Tax Assessment Act 1997

CHAPTER 4 - INTERNATIONAL ASPECTS OF INCOME TAX  

PART 4-5 - GENERAL  

Division 832 - Hybrid mismatch rules  

Subdivision 832-F - Branch hybrid mismatch  

Operative provisions

SECTION 832-475   Hybrid mismatch  

832-475(1)    
A payment gives rise to a hybrid mismatch if:

(a) the payment gives rise to a *deduction/non-inclusion mismatch; and

(b) the mismatch, or a part of the mismatch, meets the hybrid requirement in section 832-480 .

Amount of the hybrid mismatch

832-475(2)    
The amount of the *hybrid mismatch is the lesser of:

(a) the amount of the *deduction/non-inclusion mismatch; and

(b) if there is an excess under either subparagraph 832-480(2)(b)(i) or (3)(b)(i) - the amount of the excess.

Ordering rule

832-475(3)    
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 or a *reverse hybrid mismatch.