Document ID: chunk:federal_register_of_legislation:C2025C00014:section:159gv:p2
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 159GV (pt 2/2)
Character Range: 1445266–1446558

amount equal to the excess shall be allowable as a deduction from the assessable income of the taxpayer of the year of income in which the variation is made.
 (3) In this section, a reference to a material variation of the terms of a security is a reference to a variation of the terms of the security:
 (a) that has the effect that a security that was not a qualifying security before the variation would, if the security had been originally issued with the terms as varied and if paragraph (a) of the definition of qualifying security in subsection 159GP(1) were disregarded, have been a qualifying security when the security was issued;
 (b) that has the effect that a security that is a qualifying security would, if originally issued with the terms as varied, not have been a qualifying security at the time of issue; or
 (c) that has the effect that the amount, or time of making, of a payment under the security, or that the holder or issuer of the security, is varied.
 (4) Where any right or option under a security to extend the term of, or otherwise vary the effect of, the security is exercised, then, for the purposes of this section, the exercise of that right or option shall be taken to be a variation of the terms of the security to provide for the extension or other effect.