Document ID: chunk:federal_register_of_legislation:C2025C00029:section:12:p35
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 12 (pt 35/43)
Character Range: 4033480–4036203

in paragraph (1)(c) equal to so much of it as relates to the *financial arrangement mentioned in paragraph (1)(a).

230‑500  Comparable foreign accounting and auditing standards
  The regulations may:
 (a) specify that particular standards that apply under a *foreign law are to be taken for the purposes of this Division to be comparable to the *accounting principles; and
 (b) specify that particular standards that apply under a foreign law are to be taken for the purposes of this Division to be comparable to the *auditing principles.

230‑505  Financial arrangement as consideration for provision or acquisition of a thing
 (1) This section applies if you start or cease to have a *Division 230 financial arrangement as consideration for the provision or acquisition of a thing.
 (2) Work out the *market value of the thing at the time at which you (in fact) provide or acquire it. For the purposes of applying this Act to you, treat the amount:
 (a) you obtain for providing the thing; or
 (b) you provide for acquiring the thing;
as being that market value.
Note 1: The amount may be relevant, for example, for the purposes of applying the provisions of this Act dealing with capital gains, capital allowances or trading stock to the thing.
Note 2: This subsection does not affect the financial benefits received or provided under the financial arrangement from you starting or ceasing to have it (except in the circumstances described in Note 3). However:
(a) the market value of the thing will be, or form part of, those financial benefits for the purposes of section 230‑445; and
(b) in the case of a non arm's length transaction, the amount of those financial benefits may be affected by section 230‑510.
Note 3: If the thing is itself a Division 230 financial arrangement and subsection (3) does not apply, this subsection will determine the financial benefits received or provided under the financial arrangement from you starting or ceasing to have it.
 (3) Subsection (2) does not apply if:
 (a) you start or cease to have the *financial arrangement as mentioned in subsection (1) under an arrangement (the starting or ceasing arrangement); and
 (b) the thing is itself a *Division 230 financial arrangement; and
 (c) the starting or ceasing arrangement is not itself a Division 230 financial arrangement.
Example: An arrangement for exchanging a share subject to Subdivision 230‑C for another share subject to Subdivision 230‑C, where the arrangement itself is not a Division 230 financial arrangement.
 (4) For the purposes of this section:
 (a) treat yourself as providing a thing to another entity if:
 (i) you have provided, or are to provide, the thing to the other entity; or
 (ii) you cease to have,