Document ID: chunk:federal_register_of_legislation:C2013C00453:clause:1_1:p17
Version: federal_register_of_legislation:C2013C00453
Segment Type: clause
Provision Reference: sch 1 cl 1 (pt 17/52)
Character Range: 44634–47231

method to the gain or loss.

230‑105  Sufficiently certain overall gain or loss
 (1) You have a sufficiently certain overall gain or loss from a *financial arrangement at the time when you start to have the arrangement only if it is sufficiently certain at that time that you will make an overall gain or loss from the arrangement of:
 (a) a particular amount; or
 (b) at least a particular amount.
The amount of the gain or loss is the amount referred to in paragraph (a) or (b).
Note: Sections 230‑70 and 230‑75 (about apportionment of financial benefits) only apply in working out whether you make, or will make, a gain or loss (and the amount of the gain or loss) when particular events happen. They do not apply in working out, at the time when you start to have a financial arrangement, whether it is sufficiently certain that you will make an overall gain or loss from the arrangement.
 (2) In applying subsection (1), you must:
 (a) assume that you will continue to have the *financial arrangement for the rest of its life; and
 (b) have regard to the extent of the risk that a *financial benefit that you are not sufficiently certain to provide or receive under the arrangement may reduce the amount of the gain or loss.

230‑110  Sufficiently certain gain or loss from particular event
 (1) You have a sufficiently certain gain or loss from a *financial arrangement at a particular time if it is sufficiently certain at that time that you will make a gain or loss from the arrangement of:
 (a) a particular amount; or
 (b) at least a particular amount;
when one of the following occurs:
 (c) you receive a particular *financial benefit under the arrangement or one of your rights under the arrangement *ceases;
 (d) you provide a particular financial benefit under the arrangement or one of your obligations under the arrangement ceases.
The amount of the gain or loss is the amount referred to in paragraph (a) or (b).
 (2) In applying subsection (1) to work out whether you have a sufficiently certain gain or loss at a particular time:
 (a) have regard to the extent of the risk that a *financial benefit that you are not sufficiently certain to provide or receive under the arrangement may reduce the amount of the gain or loss; and
 (b) disregard any financial benefit that has already been taken into account in working out the amount of a sufficiently certain overall gain or loss from the *financial arrangement under subsection 230‑105(1) at the time when you started to have the arrangement; and
 (c) disregard any financial benefit (or that part of any financial benefit) that