Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 250.240

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

    If you have a sufficiently certain overall gain or loss from the * financial arrangement, the period over which the gain or loss is to be spread is the period that:

  (a)   starts when you start to have the arrangement; and

  (b)   ends when you will cease to have the arrangement.

In applying paragraph   (b), you must assume that you will continue to have the arrangement for the rest of its life.


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