On 16 August 2018, the Treasury Laws Amendment (Tax Integrity and Other Measures No. 2) Bill 2018 was passed by both houses of the Australian Parliament and is currently awaiting Royal Assent to be enacted. The Bill mainly includes amendments to the Income Tax Assessment Act (ITAA) 1997 and the Income Tax Assessment Act (ITAA) 1936 to introduce rules targeting hybrid mismatches.
OECD Hybrid Mismatch Rules
Part 1 of Schedule 1 of the Bill amends the ITAA 1997 by inserting the hybrid misma…