Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 250.235

Overview of the accruals method

                   If the accruals method applies to a gain or loss you make from the * financial arrangement:

                     (a)  you use section 250- 240 to work out the period over which the gain or loss is to be spread; and

                     (b)  you use section 250- 245 to work out how to allocate the gain or loss to particular intervals within the period over which the gain or loss is to be spread; and

                     (c)  if an interval to which part of the gain or loss is allocated straddles 2 income years, you use section 250-250 to work out how to allocate that part of the gain or loss allocated between those 2 income years.



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