Document ID: chunk:federal_register_of_legislation:C2013C00453:clause:1_1:p18
Version: federal_register_of_legislation:C2013C00453
Segment Type: clause
Provision Reference: sch 1 cl 1 (pt 18/52)
Character Range: 46978–49671

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 has already been taken into account in working out the amount of a sufficiently certain gain or loss from the *financial arrangement under subsection (1).
Note: Sections 230‑70 and 230‑75 allow you to apportion financial benefits provided and financial benefits received in working out the amount of a gain or loss.

230‑115  Sufficiently certain financial benefits
 (1) In deciding for the purposes of this Subdivision whether it is sufficiently certain at a particular time that you will make a gain or loss from a *financial arrangement, have regard only to:
 (a) *financial benefits that you are sufficiently certain to receive; and
 (b) financial benefits that you are sufficiently certain to provide.
Note: The particular time may be the time at which you start to have the arrangement.
 (2) A *financial benefit that you are to receive or provide is to be treated as one that you are sufficiently certain to receive or to provide only if:
 (a) it is reasonably expected that you will receive or provide the financial benefit (assuming that you will continue to have the *financial arrangement for the rest of its life); and
 (b) at least some of the amount or value of the benefit is, at that time, fixed or determinable with reasonable accuracy.
 (3) In applying subsection (2) to the *financial benefit:
 (a) you must have regard to:
 (i) the terms and conditions of the *financial arrangement; and
 (ii) accepted pricing and valuation techniques; and
 (iii) the economic or commercial substance and effect of the arrangement; and
 (iv) the contingencies that attach to the other financial benefits that are to be provided or received under the arrangement; and
 (b) you must treat the financial benefit as if it were not contingent if it is appropriate to do so having regard to the contingencies that attach to the other financial benefits that are to be received or provided under the arrangement.
 (4) In applying paragraph (2)(b) at a particular time (the reference time) to a *financial benefit that depends on a variable that is based on:
 (a) an interest rate; or
 (b) a rate that solely or primarily reflects the time value of money; or
 (c) a rate that solely or primarily reflects a consumer price index; or
 (d) a rate that solely or primarily reflects an index prescribed by the regulations for the purposes of this paragraph;
you must assume that that variable will continue to have the value it has at the reference