Tax and Superannuation Laws Amendment (2013 Measures No. 2) Act 2013 (85 of 2013)

Schedule 8   Taxation of financial arrangements

Part 2   Accruals/realisation methods

Division 2   Precedence of particular gains or losses

Income Tax Assessment Act 1997

13   Paragraph 230-110(2)(b)

Repeal the paragraph, substitute:

(b) disregard any financial benefit that has already been taken into account, under subsection 230-105(1), in working out, at the time when you started to have the arrangement, the amount of a sufficiently certain overall gain or loss from the *financial arrangement to which the accruals method applies; and