LCR 2019/D1 available for consultation

The Australian Taxation Office has recently released Draft LCR 2019/D1 OECD hybrid mismatch rules – targeted integrity rule after releasing an earlier draft for consultation in April 2019. This draft has been updated to reflect the feedback from previous consultations and the bill recently introduced into parliament which clarifies certain aspects of the hybrid mismatch rules.

As part of this process, we invite your comments on the additional content included in the updated draft guidance that covers the recently introduced amendments. The draft is open for a period of consultation until 24 July 2020. You can submit your feedback via email at [email protected]

Thank you to everyone who has provided feedback on this guidance to date. We will continue to work with you as we release further Public Advice and Guidance products.

Given the delayed passage of the bill and the proposed legislation containing unenacted measures with retrospective effect, you can also find our interim administrative compliance approach on the ATO hybrids webpage.