Submission to Treasury - proposed hybrid mismatch rules


The ASF has prepared, with the assistance of members of the securitisation industry, a submission (PDF) to Treasury addressing concerns in relation to the second exposure draft of the Treasury Laws Amendment (OECD Hybrid Mismatch Rules) Bill 2018 (Bill).  

The Bill does not reference or adopt the securitisation exclusion recommended by the OECD in Recommendation 1.5 of its report “Neutralising the Effects of Hybrid Mismatch Arrangements, Action 2” (October 2015) (OECD Report).

The ASF has requested that the exemption for securitisation vehicles detailed in Recommendation 1.5 of the OECD Report and Recommendation 9 of the Board of Taxation report be inserted into the Bill.  

Suggested exclusionary language is set out in the submission.

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