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

54   Section 230-305 (after table item 2)

Insert:

2A

(a) you cease to have one or more (but not all) of the *hedged items; or

(b) you cease to expect that one or more (but not all) of the hedged items will come into existence; or

(c) you cease to expect that you will have one or more (but not all) of the hedged items

(a) to the extent to which the gain or loss is reasonably attributable to those one or more hedged items - to the income year in which the event occurs; and

(b) to the extent to which the gain or loss is reasonably attributable to the remaining hedged item or items - over income years according to the basis determined under subsection 230-360(1).


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