Tax Laws Amendment (2010 Measures No. 4) Act 2010 (136 of 2010)
Schedule 3 Taxation of financial arrangements
Part 1 Taxation of financial arrangements amendments
Income Tax Assessment Act 1997
130 Subsection 995-1(1) (paragraph (aa) of the definition of special accrual amount )
Repeal the paragraph, substitute:
(aa) Subdivision 250-E of this Act if all the *financial benefits provided and received under the *financial arrangement concerned are denominated in a particular *foreign currency;
(ab) Subdivision 230-A of this Act (which deals with gains and losses from financial arrangements) if:
(i) the accruals method provided for in Subdivision 230-B of this Act is applied to take account of the gain or loss concerned; and
(ii) all the *financial benefits provided and received under the financial arrangement concerned are denominated in a particular foreign currency;