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

40   Subsection 995-1(1) (at the end of the definition of net income)

Add:

; and (c) of a public trading trust - has the same meaning as in Division 6C of Part III of that Act; and

(d) of an AMIT - means the AMIT's total assessable income, reduced by all deductions of the AMIT.