Treasury Laws Amendment (2020 Measures No. 2) Act 2020 (79 of 2020)

Schedule 1   Hybrid mismatch rules

Part 3   Hybrid entities integrity rule

Income Tax Assessment Act 1997

53   After subsection 832-565(2)

Insert:

(2A) Subsection (2) does not apply if:

(a) the amount that was not allowable as a deduction under section 832-530 relates to a payment; and

(b) on the assumption that subsection 832-530(2) were disregarded, no amount would have been allowable as a deduction in respect of the payment because of subsection 832-725(3).