Document ID: chunk:federal_register_of_legislation:C2013C00453:clause:1_1:p14
Version: federal_register_of_legislation:C2013C00453
Segment Type: clause
Provision Reference: sch 1 cl 1 (pt 14/52)
Character Range: 36877–39693

at the time when you start to have the arrangement; and
 (c) the benefit or obligation referred to in paragraph (1)(a) or (b) is an amount that represents, or is an obligation to provide an amount that represents:
 (i) interest; or
 (ii) a *return paid or provided on a *debt interest; or
 (iii) something that is in the nature of interest; or
 (iv) something that could reasonably be regarded as being a substitute for interest; or
 (v) something prescribed by the regulations for the purposes of this paragraph.
Note 1: An example of something in the nature of interest is a discount on a security.
Note 2: An example of something that could reasonably be regarded as being a substitute for interest is a lump sum payment made instead of payments of interest.

230‑80  Consistency in working out gains or losses (integrity measure)

Object of section
 (1) The object of this section is to stop you obtaining an inappropriate tax benefit from not working out your gains and losses in a consistent manner.

Consistent treatment for particular financial arrangement
 (2) If:
 (a) this Division provides that a particular method applies to gains or losses you make from a *financial arrangement; and
 (b) that method allows you to choose the particular manner in which you apply that method;
you must use that manner consistently for the arrangement for all income years.

Consistent treatment for financial arrangements of essentially the same nature
 (3) If:
 (a) this Division provides that a particular method applies to gains or losses you make from 2 or more *financial arrangements; and
 (b) that method allows you to choose the particular manner in which you apply that method;
you must use that same manner consistently for all of those financial arrangements that are essentially of the same nature.

230‑85  Rights and obligations include contingent rights and obligations
  To avoid doubt:
 (a) a right is treated as a right for the purposes of this Division even it is subject to a contingency; and
 (b) an obligation is treated as an obligation for the purposes of this Division even if it is subject to a contingency.

Subdivision 230‑B—The accruals/realisation methods

Table of sections

 Guide to Subdivision 230‑B
230‑90 What this Subdivision is about

Objects of Subdivision
230‑95 Objects of this Subdivision

When accruals method or realisation method applies
230‑100 When accruals method or realisation method applies
230‑105 Sufficiently certain overall gain or loss
230‑110 Sufficiently certain gain or loss from particular event
230‑115 Sufficiently certain financial benefits
230‑120 Financial arrangements with notional principal

The accruals method
230‑125 Overview of the accruals method
230‑130 Applying accruals method to work out period over which gain or loss is to be spread
230‑135