Income Tax Assessment Act 1997
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Hide history noteSECTION 240-40 Arrangement payments not to be included in notional seller's assessable income 240-40(1)
The *arrangement payments that the *notional seller receives, or is entitled to receive, under the *arrangement:
(a) are not to be included in the *notional seller's assessable income of any income year; but
(b) are not taken to be *exempt income of the notional seller.
240-40(2)
However, those *arrangement payments are taken into account in calculating *notional interest that is included in the *notional seller's assessable income under section 240-35 .
240-40(3)
A loss or outgoing incurred by the *notional seller in deriving any such *arrangement payments is not taken to be a loss or outgoing incurred by the notional seller in relation to gaining or producing *exempt income.
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