On 16 August 2018, the Federal Parliament passed new legislation on Hybrid Mismatch arrangements, targeting Australian entities operating within a multinational group, with hybrid instruments in place, or plans to restructure such arrangement.

For more information on the legislation, please refer to our previous Client Alert: What Hybrid Mismatch rules mean for the Australian Taxpayers (link hypertext).

In general terms, the legislation will apply for years of income commencing on, or after 1 January 2019 (for example, 1 July 2019 to 30 June 2020 for Australian taxpayers who have a 30 June year-end). 

If you think you may be affected by this new legislation, please contact us to discuss the rules and necessary steps required to comply with them.