Income Tax Assessment Act 1936
View history note
Hide history noteIf a taxpayer holds a qualifying security for all or part of a year of income, the effect on the taxpayer's taxable income is determined by working out the accrual amount (see section 159GQB ) for each accrual period (see section 159GQA ) in the year of income and then summing the accrual amounts.
159GQ(2) Positive sum assessable.If the sum is a positive amount, the amount is included in the assessable income of the taxpayer of the year of income.
159GQ(3) Negative sum deductible.If the sum is a negative amount, a deduction of the amount is allowable in the assessment of the taxpayer of the year of income.
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