Proposed amendment
Hon Stuart Nash, in Committee, to move the following amendment:
Clause 30(1): new section FH 15(1)
Replace the definition of structured arrangement (page 48, lines 6 to 13) with:
structured arrangement, for a person, means an arrangement to which the person or a member of the person’s control group is a party—
(a)
for which—
(i)
a transaction under or involving the arrangement has a price that assumes the existence of a hybrid mismatch:
(ii)
the facts or circumstances indicate that the arrangement is intended to rely on or produce a hybrid mismatch; and
(b)
under which the person, or a member of the person’s control group, can reasonably be expected to be aware of—
(i)
a tax benefit for the person that arises from the hybrid mismatch:
(ii)
the existence of the hybrid mismatch