Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 230.85

    To avoid doubt:

  (a)   a right is treated as a right for the purposes of this Division even if it is subject to a contingency; and

  (b)   an obligation is treated as an obligation for the purposes of this Division even if it is subject to a contingency.

Table of sections

  Guide to Subdivision   230 - B

230 - 90   What this Subdivision is about

Objects of Subdivision

230 - 95   Objects of this Subdivision

When accruals method or realisation method applies

230 - 100   When accruals method or realisation method applies

230 - 105   Sufficiently certain overall gain or loss

230 - 110   Sufficiently certain gain or loss from particular event

230 - 115   Sufficiently certain financial benefits

230 - 120   Financial arrangements with notional principal

The accruals method

230 - 125   Overview of the accruals method

230 - 130   Applying accruals method to work out period over which gain or loss is to be spread

230 - 135   How gain or loss is spread

230 - 140   Method of spreading gain or loss--effective interest method

230 - 145   Application of effective interest method where differing income and accounting years

230 - 150   Election for portfolio treatment of fees

230 - 155   Election for portfolio treatment of fees where differing income and accounting years

230 - 160   Portfolio treatment of fees

230 - 165   Portfolio treatment of premiums and discounts for acquiring portfolio

230 - 170   Allocating gain or loss to income years

230 - 172   Applying accruals method to loss resulting from impairment

230 - 175   Running balancing adjustments

Realisation method

230 - 180   Realisation method

Reassessment and re - estimation

230 - 185   Reassessment

230 - 190   Re - estimation

230 - 192   Re - estimation--impairments and reversals

230 - 195   Balancing adjustment if rate of return maintained on re - estimation

230 - 200   Re - estimation if balancing adjustment on partial disposal