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

7   Paragraph 230-45(3)(c)

Repeal the paragraph, substitute:

(c) subsection (4) or (5) is satisfied.

(4) This subsection is satisfied if, for the recipient of the *financial benefit, the amount of the money or *money equivalent referred to in paragraph (3)(a) is not subject to a substantial risk of substantial decrease in value.

(5) This subsection is satisfied if your purpose, or one of your purposes, for entering into the arrangement under which you are to receive or provide the *financial benefit, is to receive or deliver the financial benefit:

(a) to raise or provide finance; or

(b) if paragraph (a) does not apply - so that it may be converted or liquidated into money or a money equivalent (other than as part of your expected purchase, sale or usage requirements).


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