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

36   Subsection 832-680(6)

Repeal the subsection, substitute:

(6) Two or more entities (the member entities ) are members of a group (a dual inclusion income group ) in a country for the purposes of this Division if in that country:

(a) the same entity or entities are *liable entities in respect of the income or profits of each of the member entities; and

(b) no other entity is a liable entity in respect of the income or profits of any of the member entities.

Note: For example, entities that are members of a consolidated group or MEC group.