Document ID: chunk:federal_register_of_legislation:C2015C00309:clause:8_48
Version: federal_register_of_legislation:C2015C00309
Segment Type: clause
Provision Reference: sch 8 cl 48
Character Range: 62599–63618

48  Subsection 230‑310(5)
Repeal the subsection, substitute:
 (5) Subsection (6) applies if:
 (a) a *hedged item is your net investment in a foreign operation (within the meaning of the *accounting principles); and
 (b) the foreign operation is carried on through:
 (i) a company in which you hold *shares; or
 (ii) a company that is a subsidiary of yours (within the meaning of the Corporations Act 2001).
 (6) The table in subsection (4) has effect as if:
 (a) to the extent that the *hedging financial arrangement hedges a risk or risks in relation to *shares you hold in the company—the reference in that table to the *hedged item were a reference to your interest in those shares; and
 (b) to the extent that the hedging financial arrangement hedges a risk or risks in relation to another interest you have in the company—the reference in that table to the hedged item were a reference to that interest.

Part 5—Transitional balancing adjustments

Tax Laws Amendment (Taxation of Financial Arrangements) Act 2009