Document ID: chunk:federal_register_of_legislation:C2015C00309:clause:8_27
Version: federal_register_of_legislation:C2015C00309
Segment Type: clause
Provision Reference: sch 8 cl 27
Character Range: 47784–48838

27  After subsection 230‑130(4)
Insert:
 (4A) This subsection applies to a gain or loss to which subsection (3) applies, if:
 (a) there is an impairment (within the meaning of the *accounting principles) of:
 (i) the *financial arrangement; or
 (ii) a financial asset or financial liability that forms part of the arrangement; and
 (b) because of the impairment, you make a reassessment under section 230‑185 in relation to the arrangement; and
 (c) you determine on the reassessment that the gain or loss is not sufficiently certain (whether or not the gain or loss was sufficiently certain before the reassessment); and
 (d) there is a reversal of the impairment loss (within the meaning of the accounting principles) that resulted from the impairment; and
 (e) because of the reversal, you make a reassessment under section 230‑185 in relation to the arrangement; and
 (f) you determine on the reassessment that the gain or loss has become sufficiently certain.
Note: For the income years to which the gain or loss is allocated, see section 230‑170.