Document ID: chunk:federal_register_of_legislation:C2025C00029:section:4:p51
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 4 (pt 51/55)
Character Range: 3924018–3926802

profit or loss in relation to that arrangement for that income year;
 (ii) if subsection 230‑265(2) applies to the arrangement—the standard referred to in paragraph 230‑265(1)(c) would have required you to recognise a particular amount in profit or loss in relation to that arrangement for that income year if the arrangement had not been an intra‑group transaction for the purposes of the standard referred to in paragraph 230‑265(2)(b);
 (iii) if subsection 230‑265(3) applies to the arrangement—the standard referred to in paragraph 230‑265(1)(c) would have required you to recognise a particular amount in profit or loss for the year that is attributable to currency exchange rates mentioned in paragraph 230‑265(1)(c) if the arrangement had been between 2 separate entities.
The amount of the gain or loss is the amount the standard requires, or would have required, you to recognise.
Note: See subsection 230‑40(6).

Election in relation to qualifying forex accounts
 (2) You make a gain or loss from a *financial arrangement for an income year if:
 (a) a *foreign exchange retranslation election under subsection 230‑255(3) applies to the arrangement; and
 (b) the standard referred to in paragraph 230‑265(1)(c):
 (i) requires you to recognise a particular amount in profit or loss in relation to that arrangement for that income year; or
 (ii) would require you to recognise a particular amount in profit or loss in relation to that arrangement for that income year if that standard applied to the arrangement; or
 (iii) would require you to recognise a particular amount in profit or loss in relation to that arrangement for that income year if the arrangement had not been an intra‑group transaction for the purposes of the standard referred to in paragraph 230‑265(2)(b); or
 (iv) would require you to recognise a particular amount in profit or loss in relation to that arrangement for that income year if the arrangement had not been an intra‑group transaction for the purposes of the standard referred to in paragraph 230‑265(2)(b) and if that standard applied to the arrangement.
The amount of the gain or loss is the amount the standard requires, or would require, you to recognise.

Subsidiary leaving group
 (3) Subsection (4) applies if:
 (a) a *head company of a *consolidated group or *MEC group has a *financial arrangement; and
 (b) a *foreign exchange retranslation election under subsection 230‑255(1) or (3) applies to the arrangement; and
 (c) a subsidiary member of the group ceases to be a member of the group at a particular time (the leaving time); and
 (d) immediately after the leaving time, the head company no longer has the arrangement because the subsidiary member ceased to be a member of the group.
 (4) The gain or loss the group makes from the