Document ID: chunk:federal_register_of_legislation:C2011C00519:clause:1_2:p16
Version: federal_register_of_legislation:C2011C00519
Segment Type: clause
Provision Reference: sch 1 cl 2 (pt 16/21)
Character Range: 93412–96333

is made.

Proportionate transfer of all rights and/or obligations under financial arrangement

 (2) If subparagraph 250‑265(1)(c)(i) applies, you make the balancing adjustment by applying the method statement in subsection (1) but reduce:
 (a) the amounts referred to in paragraphs (a), (c) and (d) in step 1; and
 (b) the amounts referred to in paragraphs (a), (c) and (d) in step 2;
by applying the proportion referred to in subparagraph 250‑265(1)(c)(i) to them.

Transfer of specifically identified right or obligation under financial arrangement

 (3) If subparagraph 250‑265(1)(c)(ii) applies, you make the balancing adjustment by applying the method statement in subsection (1) as if the references to:
 (a) the amounts referred to in paragraphs (a), (c) and (d) in step 1; and
 (b) the amounts referred to in paragraphs (a), (c) and (d) in step 2;
were references to those amounts to the extent to which they are reasonably attributable to the right or obligation referred to in subparagraph 250‑265(1)(c)(ii).

Proportionate transfer of specifically identified right or obligation under financial arrangement

 (4) If subparagraph 250‑265(1)(c)(iii) applies, you make the balancing adjustment by applying the method statement:
 (a) as if the references to:
 (i) the amounts referred to in paragraphs (a), (c) and (d) in step 1; and
 (ii) the amounts referred to in paragraphs (a), (c) and (d) in step 2;
  were references to those amounts to the extent to which they are reasonably attributable to the right or obligation referred to in subparagraph 250‑265(1)(c)(iii); and
 (b) by reducing those amounts by applying the proportion referred to in subparagraph 250‑265(1)(c)(iii) to them.

Attribution must reflect appropriate and commercially accepted valuation principles

 (5) Any attribution made under subsection (3) or paragraph (4)(a) must reflect appropriate and commercially accepted valuation principles that properly take into account:
 (a) the nature of the rights and obligations under the *financial arrangement; and
 (b) the risks associated with each *financial benefit, right and obligation under the arrangement; and
 (c) the time value of money.

Income year for which gain or loss is made

 (6) The gain or loss you are taken to make under subsection (1), (2), (3) or (4) is a gain or loss for the income year in which the event referred to in subsection 250‑265(1) occurs.

Other provisions

250‑280  Financial arrangement received or provided as consideration

 (1) If:
 (a) this Subdivision applies in relation to your gains and losses from the *financial arrangement; and
 (b) you start to have the financial arrangement (or a part of the financial arrangement) as consideration (or as part of the consideration) for:
 (i) something (the thing provided) that you provided, or are to provide, to someone else; or
 (ii) something (the thing acquired) that someone else has provided, or