Document ID: chunk:federal_register_of_legislation:C2018A00084:clause:1_3:p10
Version: federal_register_of_legislation:C2018A00084
Segment Type: clause
Provision Reference: sch 1 cl 3 (pt 10/10)
Character Range: 112980–113751

under paragraph (2)(b) or (3)(b) as a separate loss would, apart from this Division, be allowable as a deduction to the entity for the income year.

This Division applies to a non‑currency component that is a gain
 (5) If there is an amount treated under paragraph (2)(b) or (3)(b) as a separate gain from a *financial arrangement, the gain is treated as consisting of any actual payments made under the financial arrangement and taken into account in working out the amount of the gain or loss the entity made under the arrangement.
 (6) For the purposes of this Division, assume the gain is an amount that, subject to Division 6 (about effect of foreign residence), is included in the entity's assessable income.

Part 2—Other amendments

Income Tax Assessment Act 1936