Income Tax Assessment Act 1997
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Hide history noteSECTION 832-615 When a payment gives rise to an imported hybrid mismatch 832-615(1)
A payment gives rise to an imported hybrid mismatch if:
(a) the payment gives rise to a *hybrid mismatch under section 832-620 ; and
(b) an item in the table in subsection (2) applies to the importing payment.
Note:
The amount of the imported hybrid mismatch is worked out under section 832-630 .
Priority rules for importing payments
832-615(2)
If more than one item in the following table covers an *importing payment in relation to an *offshore hybrid mismatch, apply the first item that covers it. However, an item does not apply to an importing payment if:
(a) an item higher in the table applies to one or more other importing payments in relation to the offshore hybrid mismatch; and
(b) the offshore hybrid mismatch is, or will be, fully neutralised by the application of this Subdivision, and equivalent provisions of applicable *foreign hybrid mismatch rules, to those other importing payments.
| Priority table for importing payments | ||
| Item | Topic | An *importing payment is covered if: |
| 1 | Structured arrangement | (a) the *importing payment is made under a *structured arrangement; and
(b) the payer of the importing payment, the offshore deducting entity mentioned in paragraph 832-625(1)(c) , and each interposed entity (if applicable) are all *parties to the structured arrangement |
| 2 | Direct payment | (a) the *importing payment is made directly to the offshore deducting entity mentioned in paragraph
832-625(1)(c)
; and
(b) the payer of the importing payment and the offshore deducting entity are in the same *Division 832 control group |
| 3 | Indirect payment | (a) the *importing payment is made indirectly through one or more interposed entities to the offshore deducting entity mentioned in paragraph
832-625(1)(c)
; and
(b) the payer of the importing payment, the offshore deducting entity, and each interposed entity are in the same *Division 832 control group |
Note 1:
For the meaning of structured arrangement , see section 832-210 .
Note 2:
For the meaning of Division 832 control group , see section 832-205 .
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