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

Schedule 1   Hybrid mismatch rules

Part 1   Main amendments

Income Tax Assessment Act 1997

11   At the end of section 832-130

Add:

Certain foreign taxes disregarded in this Division

(7) This subsection covers each of the following:

(a) *credit absorption tax;

(b) *unitary tax;

(c) withholding-type tax;

(d) municipal tax;

(e) in the case of a federal foreign country - a State tax.

Note: The definitions of credit absorption tax and unitary tax are in section 770-15.


Copyright notice

© Australian Taxation Office for the Commonwealth of Australia

You are free to copy, adapt, modify, transmit and distribute material on this website as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).