Australia has published the Treasury Laws Amendment (2020 Measures No. 2) Act 2020, which received royal assent (was enacted) on 3 September 2020. As provided in a release from the Australian Taxation Office (ATO), the main purpose of the Act is to provide technical amendments to clarify the operation of the hybrid mismatch rules. In particular, the amendments:
- clarify the operation of the hybrid mismatch rules for trusts and partnerships;
- clarify the circumstances in which an entity is a …