Commonwealth Consolidated Acts

INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997 - SECT 832.15

  (1)   Subdivision   832 - H (Imported hybrid mismatch) of the Income Tax Assessment Act 1997 applies to assessments for income years starting on or after 1   January 2019.

  (2)   However, in applying Subdivision   832 - H to assessments for income years starting before 1   January 2020, items   2 and 3 of the table in subsection   832 - 615(2) are to be disregarded.

  (3)   Despite subsection   (1), Subdivision   832 - H does not apply in relation to an offshore hybrid mismatch unless a deduction component of the mismatch arose in a foreign tax period that ends in an income year starting on or after 1   January 2019.

  (4)   In determining whether subsection   (3) is satisfied in relation to an offshore hybrid mismatch, disregard section   832 - 635 of the Income Tax Assessment Act 1997 .

Table of Subdivisions

840 - M   Managed investment trust amounts

840 - S   Labour mobility program withholding tax

Table of sections

840 - 805   Managed investment trust amounts

840 - 810   Payment of tax under section   840 - 805