Document ID: chunk:federal_register_of_legislation:C2024C00267:section:4:p13
Version: federal_register_of_legislation:C2024C00267
Segment Type: section
Provision Reference: s 4 (pt 13/64)
Character Range: 735605–738453

Income Tax Assessment Act 1997 covered by subsection (2) apply to assessments for income years starting on or after 1 January 2019.
 (2) The Subdivisions are as follows:
 (a) Subdivision 832‑C (Hybrid financial instrument mismatch);
 (b) Subdivision 832‑D (Hybrid payer mismatch);
 (c) Subdivision 832‑E (Reverse hybrid mismatch);
 (d) Subdivision 832‑F (Branch hybrid mismatch);
 (e) Subdivision 832‑G (Deducting hybrid mismatch);
 (f) Subdivision 832‑J (Integrity rule).

832‑15  Application of imported hybrid mismatch rule
 (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.

Division 840—Withholding taxes

Table of Subdivisions
840‑M Managed investment trust amounts
840‑S Labour mobility program withholding tax

Subdivision 840‑M—Managed investment trust amounts

Table of sections
840‑805 Managed investment trust amounts
840‑810 Payment of tax under section 840‑805

840‑805  Managed investment trust amounts
 (1) This section has effect for amounts represented by or reasonably attributable to fund payments made in relation to the first income year starting on or after the first 1 July after the day on which the Tax Laws Amendment (Election Commitments No. 1) Act 2008 receives the Royal Assent by a trust that is a managed investment trust in relation to that year.
 (2) If you are a resident of an information exchange country, subsection 840‑805(1) of the Income Tax Assessment Act 1997 does not apply to the amounts to the extent that it would otherwise apply to you.
 (3) An entity is a resident of an information exchange country if:
 (a) the entity is a resident of that country for the purposes of the taxation laws of that country; or
 (b) if there are no taxation laws of that country applicable to the entity or the entity's residency status cannot be determined under those laws:
 (i) for an individual—the individual is ordinarily resident in that country; or
 (ii) for another entity—the entity is incorporated or formed in that country and is carrying on a business in that country.
 (4) Instead, you are liable to pay income tax on the amounts (reduced as mentioned in subsection (5)) at the rate declared by the