Standard application
830-1 Standard application
Foreign hybrids
Division 830 of the Income Tax Assessment Act 1997 applies to assessments for the 2003‑2004 income year, and each later income year, of a taxpayer who will as a result be a partner in an entity that is a foreign hybrid in relation to that income year.
CFCs that are, directly or indirectly, partners in foreign hybrids
Division 830 of the Income Tax Assessment Act 1997 applies for the purpose of working out the attributable income, in relation to an attributable taxpayer, for:
the statutory accounting period that starts on 1 July 2003 or on the day on which, as a result of an election under subsection 319(2) of the Income Tax Assessment Act 1936, the statutory accounting period that would otherwise start on 1 July 2003 starts; and
each later statutory accounting period;
of a CFC that:
will as a result be a partner in an entity that is a foreign hybrid in relation to that statutory accounting period; or
has, directly or indirectly through one or more other entities, an interest in another entity that will, as a result, be a foreign hybrid in relation to that statutory accounting period.
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