Document ID: chunk:federal_register_of_legislation:C2013C00453:clause:1_12:p37
Version: federal_register_of_legislation:C2013C00453
Segment Type: clause
Provision Reference: sch 1 cl 12 (pt 37/39)
Character Range: 231293–233968

equal to the amount of the financial benefit that you would have provided or received if the parties to the dealing mentioned in subsection (6) were dealing at *arm's length in relation to the dealing.

230‑515  Arm's length dealings in relation to financial arrangement—adjustment to gain or loss in certain situations
 (1) This section applies if:
 (a) disregarding this Division, a provision mentioned in subsection (2) makes an adjustment to an amount (including a nil amount) (the relevant amount); and
 (b) the relevant amount is relevant in determining the amount of a gain or loss you make from a *Division 230 financial arrangement.
 (2) The provisions are as follows:
 (a) section 52A of the Income Tax Assessment Act 1936;
 (b) section 73B of the Income Tax Assessment Act 1936;
 (c) Division 16J of Part III of the Income Tax Assessment Act 1936;
 (d) Division 16K of Part III of the Income Tax Assessment Act 1936;
 (e) subsection 245‑65(2) in Schedule 2C to the Income Tax Assessment Act 1936;
 (f) section 775‑40 of the Income Tax Assessment Act 1997.
 (3) In determining the amount of the gain or loss, treat the relevant amount as having been adjusted by the provision mentioned in subsection (2).
 (4) However, if the circumstances that give rise to the adjustment result in section 230‑510 having the effect of altering the amount of the gain or loss, do not treat the relevant amount as having been adjusted under subsection (3) to the extent of that alteration.

230‑520  Disregard gains or losses covered by value shifting regime
 (1) Disregard a gain or loss under this Division from a *financial arrangement to the extent that it is attributable to:
 (a) a shifting of value that has consequences under Division 723; or
 (b) a *value shift that has consequences under Division 725; or
 (c) an *indirect value shift that has consequences under Division 727; or
 (d) a shifting of value that has consequences analogous to those under Division 723, 725 or 727 under a repealed provision of this Act or of the Income Tax Assessment Act 1936.
 (2) Determine whether a shifting of value has the consequences mentioned in paragraph (1)(a) or (d) on the assumption that a *realisation event in respect of all or part of the *financial arrangement happens in the income year for the gain or loss.

230‑525  Consolidated financial reports
  For the purposes of this Division, treat a financial report prepared by another entity as being prepared by you if:
 (a) the other entity is a *connected entity of yours; and
 (b) the report is a consolidated financial report that deals with both your affairs and the affairs of the connected entity; and
 (c) the report