Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 832.225

  (1)   A * deduction/non - inclusion mismatch, or a part of such a mismatch, meets the hybrid requirement in this section if:

  (a)   the payment that gives rise to the mismatch is made under an * arrangement covered by subsection   832 - 215(2); and

  (b)   the mismatch, or the part of the mismatch, is attributable to differences in the treatment of the arrangement; and

  (c)   the exception in subsection   (2) of this section does not apply.

Exception for deferrals not exceeding 3 years

  (2)   This exception applies if:

  (a)   the difference in treatment mentioned in paragraph   (1)(b) primarily relates to a deferral in the recognition of income or profits under the * arrangement; and

  (b)   the term of the arrangement is 3 years or less.