Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 250.235

    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.