Document ID: chunk:federal_register_of_legislation:C2011C00610:clause:3_56
Version: federal_register_of_legislation:C2011C00610
Segment Type: clause
Provision Reference: sch 3 cl 56
Character Range: 164799–165835

56  Subsection 995‑1(1) (definition of special accrual amount)
Repeal the definition, substitute:

special accrual amount means an amount that is included in assessable income, or an amount that can be deducted from assessable income, under any of the following:
 (a) Division 230 (about taxation of financial arrangements), other than Subdivision 230‑B;
 (b) Subdivision 230‑A if:
 (i) the accruals method provided for in Subdivision 230‑B is applied to take account of the gain or loss concerned; and
 (ii) all the *financial benefits provided and received under the *financial arrangement concerned are denominated in a particular *foreign currency;
 (c) Division 240 (about arrangements treated as a sale and loan);
 (d) Division 242 (about luxury car leases);
 (e) Division 16D of Part III of the Income Tax Assessment Act 1936 (about certain arrangements relating to the use of property);
 (f) Division 16E of Part III of the Income Tax Assessment Act 1936 (about accruals assessability in respect of certain security payments).