Tax and Superannuation Laws Amendment (2013 Measures No. 2) Act 2013 (85 of 2013)
Schedule 8 Taxation of financial arrangements
Part 4 Hedging financial arrangements method
Division 2 Hedging net investments in foreign operations
Income Tax Assessment Act 1997
48 Subsection 230-310(5)
Repeal the subsection, substitute:
(5) Subsection (6) applies if:
(a) a *hedged item is your net investment in a foreign operation (within the meaning of the *accounting principles); and
(b) the foreign operation is carried on through:
(i) a company in which you hold *shares; or
(ii) a company that is a subsidiary of yours (within the meaning of the Corporations Act 2001).
(6) The table in subsection (4) has effect as if:
(a) to the extent that the *hedging financial arrangement hedges a risk or risks in relation to *shares you hold in the company - the reference in that table to the *hedged item were a reference to your interest in those shares; and
(b) to the extent that the hedging financial arrangement hedges a risk or risks in relation to another interest you have in the company - the reference in that table to the hedged item were a reference to that interest.
Copyright notice
© Australian Taxation Office for the Commonwealth of Australia
You are free to copy, adapt, modify, transmit and distribute material on this website as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).