Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 832.530

  (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; and

  (b)   the deduction is a * deduction component of a * deducting hybrid mismatch.

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

Note:   The neutralising amount is worked out under section   832 - 560.