Income Tax Assessment Act 1997
View history note
Hide history noteSECTION 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.
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