Document ID: chunk:federal_register_of_legislation:C2025C00014:section:159gr
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 159GR
Character Range: 1434648–1435354

159GR  Consequences of actual payments
 (1) Where a payment (not being a payment that is, or to the extent that it consists of, a periodic interest payment, a redemption payment or a partial redemption payment) is made or liable to be made in a year of income to a taxpayer under a qualifying security:
 (a) no amount shall be included in the assessable income of the taxpayer of the year of income in respect of the payment otherwise than under section 159GQ; and
 (b) where the taxpayer acquired the qualifying security on transfer—no amount shall be allowable as a deduction from the assessable income of the taxpayer of the year of income in respect of the payment otherwise than under section 159GQ.