The Australian Taxation Office (ATO) released a highly anticipated draft practical compliance guideline, PCG 2021/D3 which provided clarify on two primary issues: (1) what are the reasonable enquiries required to demonstrate compliance with the imported hybrid mismatch rule (IHMR); and (2) the Australian Taxation Office’s approach to risk assessment for the application of the IMHR to taxpayer’s circumstances.
This resource provides a holistic overview of the PCG 2021/D3, as well as a detailed analysis on key terms and how businesses would be impacted by ATO’s requirements.
Authors: David Wood, Partner, and Kai-Chen Lamb, Partner, King & Wood Mallesons
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