Document ID: chunk:federal_register_of_legislation:C2015C00309:clause:8_26
Version: federal_register_of_legislation:C2015C00309
Segment Type: clause
Provision Reference: sch 8 cl 26
Character Range: 46989–47784

26  After subsection 230‑190(3)
Insert:
 (3A) You also re‑estimate a gain or loss from a *financial arrangement under subsection (5) if:
 (a) the gain or loss is spread using the method referred to in paragraph 230‑135(2)(b) in accordance with section 230‑140 (effective interest method); and
 (b) you recalculate the effective interest rate in accordance with that method; and
 (c) the terms and conditions of the arrangement provide for reset dates to occur no more than 12 months apart; and
 (d) the maximum life of the arrangement (as determined under the terms and conditions of the arrangement) is more than 12 months.
 (3B) You must re‑estimate the gain or loss at the relevant reset date if subsection (3A) applies.

Division 6—Impairments and reversals

Income Tax Assessment Act 1997