Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 832.180

  (1)   This section applies to an entity if:

  (a)   apart from this section, the entity would be entitled to a deduction in an income year in respect of a payment; and

  (b)   the deduction is the * deduction component of a * hybrid financial instrument mismatch to which the payment gives rise.

  (2)   So much of the deduction as does not exceed the amount of the * hybrid financial instrument mismatch is not allowable as a deduction.