Document ID: chunk:federal_register_of_legislation:C2013C00453:clause:1_12:p31
Version: federal_register_of_legislation:C2013C00453
Segment Type: clause
Provision Reference: sch 1 cl 12 (pt 31/39)
Character Range: 216237–219176

net capital gains limit) of the Income Tax Assessment Act 1936 also has the effect of preventing you from deducting losses.

230‑475  Clarifying exceptions

Exceptions
 (1) To avoid doubt, this Division does not apply to your gains and losses from a *financial arrangement for any income year to the extent that your rights and/or obligations are the subject of an exception under any of the following subsections.
 (2) This section is not intended to limit, expand or otherwise affect the operation of sections 230‑45 to 230‑55 (which tell you what is covered by the concept of financial arrangement) in relation to rights and/or obligations other than those dealt with in this section.

Retirement village and residential or flexible care arrangements
 (3) The following rights and obligations are the subject of an exception:
 (a) a right or obligation arising under a *retirement village residence contract;
 (b) a right or obligation arising under a *retirement village services contract;
 (c) a right or obligation arising under an *arrangement under which *residential care or *flexible care is provided.
 (4) For the purposes of subsection (3):
 (a) a retirement village residence contract is a contract that gives rise to a right to occupy *residential premises in a *retirement village; and
 (b) a retirement village services contract is a contract under which a resident of a retirement village is provided with general or personal services in the retirement village.

230‑480  Treatment of gains in form of franked distribution etc.
 (1) This section applies if a gain you make from a *financial arrangement is in the form of:
 (a) a *franked distribution (including a franked distribution that *flows indirectly to you); or
 (b) a right to receive a franked distribution (including a franked distribution that will flow indirectly to you).
 (2) This Division does not apply to the gain to the extent that the *franked distribution has a *franked part.

Subdivision 230‑I—Other provisions

Table of sections
230‑485 Effect of change of residence—rules for particular methods
230‑490 Effect of change of residence—disposal and reacquisition etc. after ceasing to be Australian resident where no further recognised gains or losses from arrangement
230‑495 Effect of change of accounting standards
230‑500 Comparable foreign accounting and auditing standards
230‑505 Financial arrangement as consideration for provision or acquisition of a thing
230‑510 Non‑arm's length dealings in relation to financial arrangement
230‑515 Arm's length dealings in relation to financial arrangement—adjustment to gain or loss in certain situations
230‑520 Disregard gains or losses covered by value shifting regime
230‑525 Consolidated financial reports

230‑485  Effect of change of residence—rules for particular methods
 (1) The object of this section is to deal with your gains and losses for an income year in which you change residence by: