Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-10 - FINANCIAL TRANSACTIONS  

Division 243 - Limited recourse debt  

Subdivision 243-C - Amounts included in assessable income and deductions  

Operative provisions

SECTION 243-40  

243-40   Amount included in debtor's assessable income  

The debtor's assessable income for the income year in which the termination occurs is to include the excess referred to in subsection 243-35(1) .

Note:

Section 243-60 applies in relation to certain partnership debts.