Document ID: chunk:federal_register_of_legislation:C2025C00029:section:4:p20
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 4 (pt 20/55)
Character Range: 3848251–3850884

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 time.
 (5) Despite subsection (4), in applying paragraph (2)(b) at a particular time to a *financial benefit that depends on a rate of change to a variable that is based on:
 (a) a rate that solely or primarily reflects a consumer price index; or
 (b) a rate that solely or primarily reflects an index prescribed by the regulations for the purposes of this paragraph;
you must assume that the rate of change to that variable will continue to be the rate of change that is current at that time.
 (6) If subsection (4) or (5) applies to a gain or loss and you are determining the amount of the gain or loss at a particular time, you must also assume that that variable will continue to have the value that it has at that time.
 (7) Subsections (4) and (5) do not limit paragraph (2)(b).
 (8) If all of the *financial benefits provided and received under the *financial arrangement are denominated in a particular *foreign currency, those financial benefits are not to be translated into:
 (a) your *applicable functional currency; or
 (b) if you do not have an applicable functional currency—Australian currency;
for the purposes of applying subsection (2) to the arrangement.
 (9) To avoid doubt:
 (a) a *financial benefit that you have already provided at a particular time is taken to be one that it is, at that time, a financial benefit that you are sufficiently certain to provide; and