Document ID: chunk:federal_register_of_legislation:C2018A00084:clause:1_3:p9
Version: federal_register_of_legislation:C2018A00084
Segment Type: clause
Provision Reference: sch 1 cl 3 (pt 9/10)
Character Range: 110539–113207

provisions

832‑780  Section 832‑20 applies to Division 230 losses
  To avoid doubt, the reference in paragraph 832‑20(1)(a) to a loss includes:
 (a) a loss from a *Division 230 financial arrangement; and
 (b) an amount treated under section 832‑790 as a separate loss from a Division 230 financial arrangement.

832‑785  Adjusting Division 230 loss
 (1) This section applies if a provision of this Division (a disallowing provision) would, apart from this section, apply to make not allowable all or a part of a deduction for:
 (a) a loss from a *Division 230 financial arrangement; or
 (b) an amount treated under section 832‑790 as a separate loss from a Division 230 financial arrangement.
 (2) The disallowing provision does not apply.
Note: See instead section 230‑522.
 (3) However, the following provisions (about adjustments) apply as if the disallowing provision had applied to make the deduction, or the part of the deduction, not allowable:
 (a) 832‑240(1)(a);
 (b) 832‑335(1)(a);
 (c) 832‑565(1)(a).

832‑790  Modifications relating to Division 230 gains and losses
 (1) This section applies to the following:
 (a) a gain that, apart from this Division, would be included in an entity's assessable income for an income year under Division 230;
 (b) a loss that, apart from this Division, would be allowable as a deduction to an entity for an income year under Division 230;
 (c) a gain or a loss that, apart from this Division, would be dealt with in accordance with subsection 230‑310(4) in relation to an income year.

Separation of currency effects for Division 230 gains and losses
 (2) For the purposes of this Division, split a gain into 2 separate gains, or a gain and a loss, as follows:
 (a) to the extent to which the gain represents a *currency exchange rate effect, treat it as a separate gain or loss;
 (b) to the extent that it does not represent that effect, treat it as a separate gain or loss from the *financial arrangement to which this Division applies.
 (3) For the purposes of this Division, split a loss into 2 separate losses, or a gain and a loss, as follows:
 (a) to the extent to which the loss represents a *currency exchange rate effect, treat it as a separate gain or loss;
 (b) to the extent that it does not represent that effect, treat it as a separate gain or loss from the *financial arrangement to which this Division applies.
 (4) For the purposes of this Division, assume an amount treated under paragraph (2)(b) or (3)(b) as a separate loss would, apart from this Division, be allowable as a deduction to the entity for the income year.

This Division applies to a non‑currency component that is a gain
 (5) If there