Income Tax Assessment Act 1997
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Hide history noteSECTION 832-315 Hybrid requirement - assume payment was made to same recipient but by an ungrouped payer 832-315(1)
The payment meets the hybrid requirement in this section if:
(a) the payment is made by a *hybrid payer; and
(b) subsection (2) or (3) applies.
Payment would have been taxed in Australia
832-315(2)
This subsection applies if:
(a) the non-including country identified in subsection 832-320(3) is Australia; and
(b) either:
(i) the amount of the *deduction/non-inclusion mismatch exceeds the amount that would be the amount of that mismatch if the amount of the payment that was *subject to Australian income tax for an income year was instead worked out on the assumption in subsection (4); or
(ii) on the assumption in subsection (4), the payment would have given rise to a *hybrid financial instrument mismatch.
Payment would have been taxed in a foreign country
832-315(3)
This subsection applies if:
(a) the non-including country identified in subsection 832-320(3) is a foreign country; and
(b) either:
(i) the amount of the *deduction/non-inclusion mismatch exceeds the amount that would be the amount of that mismatch if the amount of the payment that was *subject to foreign income tax for a *foreign tax period was instead worked out on the assumption in subsection (4); or
(ii) on the assumption in subsection (4), the payment would have given rise to a *hybrid financial instrument mismatch.
Assumption - payer was an ungrouped entity
832-315(4)
For the purposes of subsections (2) and (3), assume that the payment had instead been made:
(a) to the same recipient; but
(b) by an entity that was a *liable entity in the non-including country identified in subsection 832-320(3) only in respect of its own income or profits.
Note:
For the meaning of liable entity , see section 832-325 .
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