Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) A payment gives rise to an imported hybrid mismatch if:
(a) the payment gives rise to a * hybrid mismatch under section 832 - 620; and
(b) an item in the table in subsection (2) applies to the importing payment.
Note: The amount of the imported hybrid mismatch is worked out under section 832 - 630.
Priority rules for importing payments
(2) If more than one item in the following table covers an * importing payment in relation to an * offshore hybrid mismatch, apply the first item that covers it. However, an item does not apply to an importing payment if:
(a) an item higher in the table applies to one or more other importing payments in relation to the offshore hybrid mismatch; and
(b) the offshore hybrid mismatch is, or will be, fully neutralised by the application of this Subdivision, and equivalent provisions of applicable * foreign hybrid mismatch rules, to those other importing payments.
Priority table for importing payments | ||
Item | Topic | An * importing payment is covered if: |
1 | (a) the * importing payment is made under a * structured arrangement; and (b) the payer of the importing payment, the offshore deducting entity mentioned in paragraph 832 - 625(1)(c), and each interposed entity (if applicable) are all * parties to the structured arrangement | |
2 | Direct payment | (a) the * importing payment is made directly to the offshore deducting entity mentioned in paragraph 832 - 625(1)(c); and (b) the payer of the importing payment and the offshore deducting entity are in the same * Division 832 control group |
3 | Indirect payment | (a) the * importing payment is made indirectly through one or more interposed entities to the offshore deducting entity mentioned in paragraph 832 - 625(1)(c); and (b) the payer of the importing payment, the offshore deducting entity, and each interposed entity are in the same * Division 832 control group |
Note 1: For the meaning of structured arrangement , see section 832 - 210.
Note 2: For the meaning of Division 832 control group , see section 832 - 205.