Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) This section applies if an amount is included in the assessable income of an entity under a provision of this Division in relation to a payment.
(2) An amount in relation to the payment that is to be included in the assessable income of the entity under a provision (other than a provision of this Division) is to be reduced to the extent (if any) necessary to ensure that the total amount included in the entity's assessable income in relation to the payment does not exceed the amount of the payment.
Relationship with section 230 - 20
(3) This section applies despite section 230 - 20 (about
taxation of financial arrangements).