Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-10 - FINANCIAL TRANSACTIONS  

Division 240 - Arrangements treated as a sale and loan  

Subdivision 240-F - The end of the arrangement  

Operative provisions

SECTION 240-75   When is the end of the arrangement?  

240-75(1)    
If the *arrangement is stated to cease to have effect at a particular time, it is taken for the purposes of this Division to end (even if it is extended or renewed) at the earlier of:

(a) that time; or

(b) the time at which the arrangement ceases to have effect (whether because the arrangement is terminated or for any other reason).

Note:

Section 240-80 deals with extensions and renewals.

240-75(2)    
An *arrangement is taken to have ended if it is extended or renewed.

240-75(3)    
If the *arrangement is of indefinite duration, it ends at the time at which the arrangement ceases to have effect even if the *arrangement is renewed.

Note:

Section 240-80 deals with extensions and renewals.

240-75(4)    
An *arrangement is taken to have ended if it is reasonable to conclude, having regard to the terms and conditions of the *arrangement, that the arrangement has ceased to have effect.

240-75(5)    
An *arrangement is also taken to have ended if the property has been lost or destroyed.